CFPB – Regulatory Report

What's up

[ September 26, 2023 ] FDIC info security program operating ‘managed, measurable,’ but several risks continue to confront agency, audit finds FDIC
[ September 26, 2023 ] OCC November workshop in SD focused on management OCC
[ September 25, 2023 ] Credit union regulator updates simplified CECL tool for Q3 reporting NCUA
[ September 25, 2023 ] Otsuka, nominated to NCUA Board, awaits hearing date NCUA
[ September 25, 2023 ] FSOC continues to consider comments on framework for financial stability risk, nonbank determinations Other

FAQs address CFPB small business lending rule in wake of Texas court decision

September 14, 2023 0

The impact of a federal court order freezing implementation of the small business lending rule issued by the federal consumer financial protection agency spawned a new set of “frequently asked questions” (FAQs) by the agency […]

Chopra assails legal challenges to CFPB rules, asserting they will destabilize housing, consumer markets

September 12, 2023 0

Legal challenges to the authority of the federal consumer financial protection agency could challenge the stability of the nation’s housing market, the agency’s head said Monday, since its rules are intertwined so closely to the […]

Leasing firm ordered to let customers keep merchandise, forgo $33 million in payments, pay $2 million penalty

September 11, 2023 0

Merchandise obtained by customers from a leasing firm will be kept by those who leased it, and the firm will pay a $2 million penalty, after a federal agency found the firm tricked the customers […]

‘Big tech’ restrictions on tap-to-pay have ‘significant impact’ on payments in U.S., report contends

September 7, 2023 0

Regulations imposed by mobile operating systems owned by “big tech” companies can have a significant impact on innovation, consumer choice, and the growth of open and decentralized banking and payments in the U.S., according to […]

HMDA filing instructions guide updated for 2024

September 7, 2023 0

The filing instructions guide (FIG) to help financial institutions file Home Mortgage Disclosure Act (HMDA) data collected in 2024 and reported in 2025 is available online now, the federal consumer financial protection agency said Thursday. […]

Special purpose credit programs are topic of Sept. 12 roundtable discussion among housing, community groups, agencies say

August 25, 2023 0

A Sept. 12 roundtable discussion on special purpose credit programs (SPCPs) to help meet the credit needs of eligible individuals will include remarks from, among others, the leaders from the national bank regulatory agency, two […]

Fee-harvesting,’ ‘loan-churn scheming’ non-bank firm is sued for unfair, abusive practices

August 22, 2023 0

Describing the actions of an installment lender as “fee harvesting” and a “loan-churning scheme,” the federal consumer financial protection action has filed a lawsuit against the firm for unfair and abusive practices, it said Tuesday. […]

Illegal incentives in exchange for mortgage loan referrals earns cease and desist, $1.75 million penalty

August 17, 2023 0

Providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals has earned a Florida non-bank company a $1.75 million penalty and a cease and desist order, the federal consumer financial […]

Bureau updates filing instructions for small-business lending data

August 17, 2023 0

A update to the filing instructions for small-business lending data was released Thursday by the federal consumer financial protection agency. According to the Consumer Financial Protection Bureau (CFPB), the update includes: Reordering of certain demographic […]

Bureau to unveil rules expanding scope of FCRA to cover tracking, selling personal data

August 15, 2023 0

Tracking and selling people’s personal data would be regulated under a proposal that would expand the scope to more companies of current credit reporting rules and to be unveiled next month, the federal consumer financial […]

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FDIC info security program operating ‘managed, measurable,’ but several risks continue to confront agency, audit finds

September 26, 2023 0

While its information security program is operating at a “managed and measurable” level, the federal bank deposit insurance agency still needs to address some issues in the system, according to an audit report issued Tuesday by the agency’s office of [...]
OCC November workshop in SD focused on management

September 26, 2023 0

A workshop titled “The Building Blocks: Developing Strong Management” and geared to bank directors, senior management and other “key” executives is slated Nov. 7-8 in Sioux Falls, S.D., the Office of the Comptroller of the Currency (OCC) said Tuesday. The [...]
Credit union regulator updates simplified CECL tool for Q3 reporting

September 25, 2023 0

An updated version of a tool aimed at helping credit unions comply with current-expected-credit-loss (CECL) accounting requirements was released Monday by the National Credit Union Administration (NCUA), intended to be in time for completing call reports for the quarter ending [...]
Otsuka, nominated to NCUA Board, awaits hearing date

September 25, 2023 0

No date appears to have been set yet for a Senate Banking Committee hearing on the president’s nomination Sept. 21 of Tanya Otsuka to succeed Rodney Hood as a member of the National Credit Union Administration (NCUA) Board. Otsuka, who [...]
FSOC continues to consider comments on framework for financial stability risk, nonbank determinations

September 25, 2023 0

Public comments received on a proposed analytic framework for financial stability risk identification, assessment, and response – and on proposed guidance regarding nonbank financial company determinations — was a focus of the meeting late last week by the members of [...]
Damage from 2017 Hurricane Maria spurs agencies to extend period for banks to receive CRA consideration

September 25, 2023 0

Banks have a 36-month extension for recognizing activities that help to revitalize or stabilize Puerto Rico and the U.S. Virgin Islands via anti-redlining rules because of damages caused by Hurricane Maria in 2017, the federal banking agencies said late Friday. [...]