An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule Tuesday by the federal consumer financial protection agency. […]
By tapping Rohit Chopra as the intended nominee for next director of the federal consumer financial protection agency, the incoming Biden administration is signaling that changes are coming to leadership of federal financial institution regulation. […]
A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday by the federal insurer of bank deposits. Three […]
A summary of the October 2020 debt collection rule regarding communications between collectors and debtors is provided in a small-entity compliance guide released by the federal consumer financial protection agency Friday. The Consumer Financial Protection […]
A $3.5 million fine has been assessed against the former Wells Fargo Bank general counsel in a settlement following charges that he and other executives helped to maintain a business model that urge workers at […]
Improving coordination between the federal credit union regulator and federal consumer financial protection agency over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a […]
A final “fair access” rule codifying that banks should conduct risk assessments of individual customers was issued Thursday by the national bank regulator, just 10 days after the comment period closed. The rule takes effect […]
Financial institutions are encouraged to better serve consumers with limited English proficiency (LEP) and are being provided principles and guidelines to assist financial institutions seeking to better serve LEP consumers in non-English languages, the federal […]
Little or no changes in loan volumes were reported by bankers in the last few weeks of 2020, and optimism for economic recovery in the wake of COVID-19 vaccines has waned over the recent surge […]
Melissa M. Lowden will be the federal credit union regulator’s next deputy chief financial officer, effective Jan. 17, the agency said Tuesday. In a release, the National Credit Union Administration (NCUA) said Lowden – who joined […]
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