CFPB – Regulatory Report

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[ March 22, 2019 ] Supplementary leverage ratio, deposit insurance rules slated for March 29 FDIC Board meeting FDIC
[ March 22, 2019 ] ‘Transparency’ initiative paying off with thousands of public views of bank insurer’s website, chairman tells group FDIC
[ March 22, 2019 ] Federally chartered commercial banks, thrifts see 41% less trading revenue in 4Q, OCC reports OCC
[ March 22, 2019 ] New York Fed’s new fintech group holds first meeting April 1 The Fed
[ March 21, 2019 ] UPDATED: CFPB advisory panels to meet 3 times a year effective FY2020, terms extended; applications welcome CFPB

UPDATED: CFPB advisory panels to meet 3 times a year effective FY2020, terms extended; applications welcome

March 21, 2019 0

This has been updated to include a link to the March 22 Federal Register notice soliciting advisory council membership applications. Changes affecting the membership and meetings frequency of the Consumer Financial Protection Bureau’s (CFPB) research […]

CFPB to propose debt collection rule this spring, Kraninger says

March 20, 2019 0

A notice of proposed rulemaking related to debt collection is planned for issuance in the spring of this year, the director of the Consumer Financial Protection Bureau (CFPB) stated in her message for the agency’s […]

Financial services complaints up 12% among servicemembers; credit, consumer reporting leads (again)

March 20, 2019 0

Complaints related to financial services were up 12% in 2018 among members of the U.S. armed services, veterans and their families, according to the latest “complaint snapshot” published Tuesday by the federal consumer financial protection […]

Waters’ House panel marks up CFPB, cannabis banking bills March 26

March 19, 2019 0

Two financial services bills – one targeting the consumer financial protection agency, the other addressing services to legitimate marijuana businesses – are slated for mark-up next Tuesday by the House Financial Services Committee, panel Chairwoman […]

Trump 2020 budget again calls for lower consumer bureau spending, funding through appropriations

March 19, 2019 0

Funding for the Consumer Financial Protection Bureau (CFPB) would be cut by $23 million in fiscal year 2020, with total funding reductions of about $5 billion through FY 2029, according to White House budget documents. […]

Effective date delay for ‘ability to repay’ provisions in payday lending rule generates at least 87 comments

March 19, 2019 0

At least 87 comments are now on file to the proposed change in the effective date of “ability to repay” provisions of the federal consumer financial protection agency’s regulation for payday lending, according to initial […]

CFPB ‘Your Money, Your Goals’ cohort draws 40 new organizations

March 14, 2019 0

Forty community organizations and service providers have signed on as participants in the 2019 Your Money, Your Goals cohort of the Consumer Financial Protection Bureau (CFPB), the bureau announced in a blog post Thursday. The […]

Unfair, deceptive practices in auto loan and mortgage servicing, more noted in CFPB Supervisory Highlights

March 12, 2019 0

Findings of unfair and deceptive or abusive acts or practices connected to auto loan servicing, deposits, mortgage servicing, and remittances are described in the winter 2019 edition of the Consumer Financial Protection Bureau (CFPB) Supervisory […]

Kraninger’s ‘open mind’ on payday lending proposal meets Democrats’ closed ranks of ire in Senate hearing

March 12, 2019 0

Despite saying she has an “open mind” about a proposed rule on payday lending, the director of the federal consumer financial protection agency faced a flurry of questions from Democratic senators in a hearing Tuesday […]

NCUA alerts credit unions to CFPB’s 2019 rural, underserved counties list

March 8, 2019 0

An updated list of rural and underserved counties where lenders are exempt from certain Truth in Lending Act (TILA) mortgage rule requirements has been published by the Consumer Financial Protection Bureau (CFPB) and announced to […]

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Supplementary leverage ratio, deposit insurance rules slated for March 29 FDIC Board meeting

March 22, 2019 0

Revisions to a supplementary leverage ratio requirement for custodial banks and proposals regarding federal deposit insurance are slated for discussion during an open meeting March 29 by the board of the Federal Deposit Insurance Corp. (FDIC), the agency said Friday. [...]
‘Transparency’ initiative paying off with thousands of public views of bank insurer’s website, chairman tells group

March 22, 2019 0

About 10,000 website views per week of publicly available, previously unpublished information – and 50,000 unique visitors to the site – are signs that the federal bank deposit insurer’s program for greater transparency is having an impact, the chairman of the [...]
Federally chartered commercial banks, thrifts see 41% less trading revenue in 4Q, OCC reports

March 22, 2019 0

U.S. commercial banks and federal savings associations (FSAs) had $4.2 billion in trading revenue in the fourth quarter of 2018 – down $2.9 billion, or 41%, from the third-quarter total, the Office of the Comptroller of the Currency (OCC) said [...]
New York Fed’s new fintech group holds first meeting April 1

March 22, 2019 0

A Fintech Advisory Group formed to provide the Federal Reserve Bank of New York with perspectives and insight on financial technology (fintech) issues and their impacts on the markets – and the bank – was launched Friday and is set [...]