Banks, credit unions, and savings associations with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage Disclosure), the Consumer Financial Protection Bureau […]
A final rule that updates or eliminates outdated regulatory requirements that “no longer reflect the modern financial system,” incorporates or codifies agency interpretations, and more is set to take effect April 1, the Office of […]
A $25 million civil money penalty, and a $10 million ding for consumer redress, was ordered against a bank and its student lending subsidiaries for violating previous orders, the federal consumer financial protection agency said […]
Providing erroneous consumer loan data to consumer reporting agencies over years at a time has earned a U.S. subsidiary of a Spanish bank a consent order from the federal consumer financial protection agency, which imposes […]
The federal banking agencies have extended, to Jan. 1, 2022, temporary “no-action” relief for applying Regulation O to companies that manage funds investing in banking organizations. The action by the agencies extends relief provided last […]
References to an “interest on required reserves” (“IORR”) rate and to an “interest on excess reserves” (“IOER”) rate would be replaced with a single “interest on reserve balances” (“IORB”) rate under a proposal for amending […]
Regulatory Report is taking a holiday break, beginning Dec. 24; publication will resume on Jan. 4. That is, unless there are significant news events between now and then – in which case “special reports” will be […]
New requirements for certain transactions involving convertible virtual currency (CVD) or digital assets with legal tender (LTDA) status will be proposed by the Treasury’s financial crimes arm as early as Wednesday, which would require financial […]
How the federal agency that charters national banks interprets standards for federal preemption of state law under the 2010 financial consumer protection statute is detailed in a new interpretive letter. The letter, issued Friday by […]
A large remittance provider was assessed a $750,000 civil money penalty over “thousands” of remittance rule violations and required to correct its practices under a consent order announced Monday by the Consumer Financial Protection Bureau […]
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