CFPB

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[ November 15, 2024 ] Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds The Fed
[ November 15, 2024 ] CLF’s 2025-26 budget, share insurance fund update slated next Thursday NCUA
[ November 15, 2024 ] Farmer Mac stock a permissible investment for some FCUs, agency opinion states NCUA
[ November 14, 2024 ] Fed’s Kugler becomes latest board member to advocate for continued agency independence The Fed
[ November 14, 2024 ] VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs CFPB

Report: CFPB director will enforce law, but consider ‘costs and benefits’ to consumers of actions

January 3, 2019 0

Vigorous enforcement of the law will be pursued, but the “costs and benefits to consumers” of enforcement activities and rulemakings will also weighed, according to a memo sent to staff Wednesday by the new director […]

Consumer bureau workers like their jobs, value agency mission – but not necessarily ‘senior leadership’ policies, integrity

December 31, 2018 0

More than four in every five of the workers at the federal consumer financial protection agency acknowledge that the work they do is important (and a similar number say they like the work that they […]

In reversal of long-time trend, more credit card programs offered through colleges in 2017, report finds

December 28, 2018 0

Reversing a long-standing trend, credit card programs offered with colleges and universities or their affiliated entities increased in 2017, according to a report issued Friday by the federal consumer financial protection agency. In its College […]

Bureau guidance outlines HMDA data changes for coming year – and more modifications, too

December 26, 2018 0

Final policy guidance describing mortgage lending data that will be disclosed publicly in 2019 – as well as information that will be excluded from disclosure – was announced Friday by the federal consumer financial protection […]

Report calls for ‘systematic process’ at consumer bureau for prioritizing consumer risks

December 21, 2018 0

A systematic process by the federal consumer financial protection agency for prioritizing risks to consumers could use principles such as assessment of the extent of potential harm to consumers in financial markets, the congressional watchdog […]

Fintech lenders need more guidance on use of alternative data, GAO finds

December 19, 2018 0

While alternative data is helpful for financial technology, or “fintech,” companies to use in determining borrowers’ creditworthiness, the Consumer Financial Protection Bureau and the federal banking agencies should communicate with these lenders about how to […]

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Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

November 15, 2024 0

Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset quality, according to a supervision [...]
CLF’s 2025-26 budget, share insurance fund update slated next Thursday

November 15, 2024 0

The budget for the agency’s liquidity facility for credit unions is slated for action during the Nov. 21 open meeting of the National Credit Union Administration (NCUA) Board, which will also receive a credit union share (deposit) insurance fund briefing. [...]
Farmer Mac stock a permissible investment for some FCUs, agency opinion states

November 15, 2024 0

Federal credit unions (FCUs) may invest in common stock of the Federal Agricultural Mortgage Corporation, or Farmer Mac, to the extent they must in order to serve as loan originators or sellers in the program, the federal credit union regulator [...]
Fed’s Kugler becomes latest board member to advocate for continued agency independence

November 14, 2024 0

Count Federal Reserve Board Gov. Adriana Kugler as an advocate of continued agency independence, who Thursday said that condition is “fundamental” to the Fed achieving good policy. In remarks to a meeting of the Latin American and Caribbean Economic Association [...]
VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

November 14, 2024 0

A Virginia firm must pay $3 million for illegally taking millions of dollars from more than a half-million accounts and blocking money transfers to consumers who are incarcerated, according to charges made public by Thursday by the federal consumer financial [...]
OIG sets 4 recommendations for NCUA’s federal chartering process

November 14, 2024 0

Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National Credit Union Administration (NCUA) Office [...]
Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was provided in the NCUA’s evening [...]
PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

November 13, 2024 0

Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer of bank deposits. The report, [...]
Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs

November 13, 2024 0

An alert to help financial institutions identify fraud schemes targeting them and that are associated with the use of deepfake media created with generative artificial intelligence (GenAI) tools was issued Wednesday by Treasury’s financial crimes enforcement arm. The Financial Crimes [...]

Report: CFPB director will enforce law, but consider ‘costs and benefits’ to consumers of actions

Consumer bureau workers like their jobs, value agency mission – but not necessarily ‘senior leadership’ policies, integrity

In reversal of long-time trend, more credit card programs offered through colleges in 2017, report finds

Bureau guidance outlines HMDA data changes for coming year – and more modifications, too

Report calls for ‘systematic process’ at consumer bureau for prioritizing consumer risks

Fintech lenders need more guidance on use of alternative data, GAO finds

Asserting leadership (and picking battles), new consumer bureau director unplugs name change plan of predecessor

Volcker Rule proposal eases restrictions on community banks, per EGRRCPA; Gruenberg takes cautionary view

Study identifies eight key findings for financial well-being in older Americans

Waters pans BCFP for poor transparency on banks’ fees to students

Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

Farmer Mac stock a permissible investment for some FCUs, agency opinion states

Fed’s Kugler becomes latest board member to advocate for continued agency independence

VA firm must pay $3 million for taking funds, blocking accounts to pay for prisoner basic needs

OIG sets 4 recommendations for NCUA’s federal chartering process

Small FL credit union conserved

PA bank failure, first of year, came from reclassified debt securities, dysfunctional management, report finds

Reports of suspected fraud using deepfake media spurs FinCEN to issue ‘red flags’ alert to FIs