CFPB – Regulatory Report

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[ November 26, 2021 ] Arkansas bank faces penalty for accusation of misrepresenting refinancing loans to veterans FDIC
[ November 24, 2021 ] Fed report shows continued dominance of large banking firms; net interest income, CRE loans of concern The Fed
[ November 23, 2021 ] Supervisory ‘non-objection’ required before a bank can engage in crypto activities, new OCC letter clarifies OCC
[ November 23, 2021 ] Crypto-asset ‘policy sprints’ among Fed, FDIC, OCC produce ‘roadmap’ for future work FDIC
[ November 23, 2021 ] NCUA Board bumps FCU’s CAMEL 3 rating to a 2, with agency chairman dissenting NCUA

CFPB launches HMDA rule assessment, covering rules and revisions from 2015 forward

November 22, 2021 0

A voluntary assessment of its Home Mortgage Disclosure Act (HMDA) rule – covering everything from the 2015 rule through last year’s revisions – is being undertaken by the Consumer Financial Protection Bureau (CFPB), which is […]

Alarmed about leaks of confidential info via former workers, CFPB leader issues guidance to staff

November 19, 2021 0

Concerned that some former agency employees are exploiting confidential information to make money, the director of the federal consumer financial protection issued guidance Friday calling on current workers to report suspicious activity. In a blog […]

FCC’s reassigned numbers database is a ‘complete and accurate’ database debt collectors can use, consumer bureau says

November 18, 2021 0

A database debt collectors can tap to help ensure the data they use for communications with consumers passes a regulatory smell test has been published by the Federal Communications Commission, according to an email notice […]

GAO gives CFPB clean audit opinion for fiscal 2021, 2020 financial statements

November 15, 2021 0

The financial statements of the Consumer Financial Protection Bureau (CFPB) for fiscal years ending 2021 and 2020 were given an unmodified (or “clean”) audit opinion by the Government Accountability Office (GAO), according to a report […]

CFPB seeks injunction, money penalties from pawn lenders over MLA violations

November 12, 2021 0

Allegations of Military Lending Act (MLA) violations by pawn lenders First Cash, Inc., and its wholly owned subsidiary Cash America West, Inc., are at the root of a lawsuit filed Friday by the Consumer Financial […]

Open-end lines of credit mortgage disclosure data reporting adjusts to 200 at first of new year, agency reminds

November 12, 2021 0

The threshold adjusts to 200 open-end lines of credit for reporting mortgage disclosure data at the start of the new year, the federal consumer financial protection agency reminded Friday. In a publicly released letter, the […]

Bank, credit union regulators cease COVID-related supervisory ‘flexibility’ for mortgage servicers

November 12, 2021 0

Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]

CFPB opens 30-day public comment period on its big-tech data inquiry; input due Dec. 6

November 5, 2021 0

The Consumer Financial Protection Bureau’s (CFPB) inquiry into the business practices of six large technology firms operating payments systems in the United States will be open for public comment until Dec. 6, according to a […]

CFPB Inquiry Into Big Tech Payment Platforms

November 5, 2021 0

Title: CFPB Inquiry Into Big Tech Payment Platforms Subject: Payments/big tech Agency: CFPB Status: Notice and request for comment Summary: On October 21, 2021, the Consumer Financial Protection Bureau (Bureau or CFPB) ordered six large […]

Bureau opinion affirms ‘name-only matching’ by background screeners violates FCRA

November 4, 2021 0

Background screeners that use “name-only matching” to verify the identity of job or housing applicants are violating federal law, according to an advisory opinion announced Thursday by the Consumer Financial Protection Bureau (CFPB). “Regulators are […]

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