CFPB – Regulatory Report

What's up

[ February 24, 2020 ] NCUA’s McWatters says sale of taxi medallion loan portfolio spared insurance fund, credit unions further losses NCUA
[ February 24, 2020 ] Review, comments sought for updated bank research, organizational online tools FDIC
[ February 24, 2020 ] ‘Fast facts’ released to provide top-line details about ‘time-barred’ debt collections proposal CFPB
[ February 24, 2020 ] Minority depository institutions focus of March 3-4 forum led by NCUA’s Hood NCUA
[ February 24, 2020 ] CFPB’s reg agenda focus of consumer, bank, credit union, academic research councils meetings in two weeks CFPB

‘Fast facts’ released to provide top-line details about ‘time-barred’ debt collections proposal

February 24, 2020 0

“Fast facts” about a proposal to clarify regulations covering debt collections of debt past the statute of limitations was published Monday by the federal consumer financial protection agency. The two-page fact sheet, published by the […]

CFPB’s reg agenda focus of consumer, bank, credit union, academic research councils meetings in two weeks

February 24, 2020 0

The panels that advise the consumer financial protection agency on consumer, community bank, and credit union issues, as well as the agency’s research panel, are set to meet March 11, 12, and 13 on issues […]

Debt collections on time-barred debt would be clarified under bureau proposal

February 21, 2020 0

Debt collectors would be banned from making calls or taking other “non-litigation means” to collect on debt that is beyond the statute of limitations unless it is disclosed during an initial contact that the debt […]

CFPB, two states file lawsuit against broker of schemes for high-interest credit to disabled veterans, others

February 20, 2020 0

A broker arranging high-interest credit agreements to consumers – particularly disabled veterans – was sued by the federal consumer financial protection agency and two states in action filed Thursday, the regulators said. The Consumer Financial […]

Consumer bureau slates Feb. 26 symposium on consumers’ access to financial records

February 20, 2020 0

A symposium on consumers’ access to financial records and underlying requirements in Section 1033 of the Dodd-Frank Act will be held Feb. 26 by the Consumer Financial Protection Bureau (CFPB), the agency announced Thursday. The […]

Payday lending violations lead ‘observations’ in latest consumer bureau report

February 18, 2020 0

Violations of federal rules regulating payday lending, debt collection, mortgage servicing, and student loan servicing are highlighted in the latest version of “supervisory highlights” from the federal consumer financial protection agency. Payday lending led with […]

Bureau aims to understand effects of TRID rule on lenders through series of surveys

February 7, 2020 0

Understanding the effects on lenders of rules designed to help borrowers select the mortgage that is right for them and to protect them from getting ripped off by those lenders is the aim of a […]

Statement of Policy Regarding Prohibition on Abusive Acts or Practices

February 6, 2020 0

Title: Statement of Policy Regarding Prohibition on Abusive Acts or Practices Subject: Abusive acts or practices Agency: CFPB Status: Policy statement Summary: Section 1031(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank […]

Kraninger: QM rule will ‘move away’ from 43% debt-to-income ratio requirement, consider new threshold

February 6, 2020 0

The “qualified mortgage” (QM) rule will be amended by moving away from the 43% debt-to-income (DTI) ratio requirement to a new threshold, according to a proposal outlined by the director of the federal consumer financial […]

Bureau schedules ‘convening’ on debt relief next month

February 6, 2020 0

A day-long, public session on consumer debt relief will be held March 10 in Washington by the Consumer Financial Protection Bureau (CFPB), according to a “save the date” notice on the bureau’s website. This so-called […]

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NCUA’s McWatters says sale of taxi medallion loan portfolio spared insurance fund, credit unions further losses

February 24, 2020 0

The recently announced sale of the agency’s taxi medallion loan portfolio to Marblegate Asset Management LLC was the best option for meeting the agency’s statutory obligation to achieve the least long-term cost to the National Credit Union Share Insurance Fund [...]
Review, comments sought for updated bank research, organizational online tools

February 24, 2020 0

Review and comments of updated and “cloud-based” data tools for locating and researching a bank, and exploring changes in bank organizational structure, is being sought by the federal insurer of bank deposits. The Federal Deposit Insurance Corp. (FDIC) said Monday [...]
‘Fast facts’ released to provide top-line details about ‘time-barred’ debt collections proposal

February 24, 2020 0

“Fast facts” about a proposal to clarify regulations covering debt collections of debt past the statute of limitations was published Monday by the federal consumer financial protection agency. The two-page fact sheet, published by the Consumer Financial Protection Bureau (CFPB), [...]
Minority depository institutions focus of March 3-4 forum led by NCUA’s Hood

February 24, 2020 0

A two-day Minority Depository Institution (MDI) Forum taking place at the Treasury Department and the National Credit Union Administration (NCUA) next week, March 3 and 4, is open to credit unions on a first-come, first-served basis, the NCUA said in [...]
CFPB’s reg agenda focus of consumer, bank, credit union, academic research councils meetings in two weeks

February 24, 2020 0

The panels that advise the consumer financial protection agency on consumer, community bank, and credit union issues, as well as the agency’s research panel, are set to meet March 11, 12, and 13 on issues related to the agency’s unified [...]
Debt collections on time-barred debt would be clarified under bureau proposal

February 21, 2020 0

Debt collectors would be banned from making calls or taking other “non-litigation means” to collect on debt that is beyond the statute of limitations unless it is disclosed during an initial contact that the debt is, in fact, past the [...]
Year-end 2019 financial results for banks set for release Tuesday

February 21, 2020 0

Year-end 2019 financial results for the banking industry will be released Tuesday (Feb. 25) by the federal insurer of bank deposits, the agency said Friday. The release of Quarterly Banking Profile (QBP) by the Federal Deposit Insurance Corp. (FDIC) will [...]
Banking agencies hold national CRA conference March 9-12

February 21, 2020 0

Federal banking regulators on Friday pushed out a release on their 2020 National Interagency Community Reinvestment Conference, slated March 9-12 in Denver, Colo., and focusing on Community Reinvestment Act (CRA) best practices and emerging community development challenges. The biennial conference [...]
CCyB ‘well designed’ to handle next economic downturn, Fed governor asserts

February 21, 2020 0

A countercyclical capital buffer (CCyB) is “well designed” to address financial imbalances in the event of another economic downturn (such as the financial crisis beginning in 2007), a member of the Federal Reserve Board said Friday. In remarks mostly focused [...]