CFPB – Regulatory Report

What's up

[ January 18, 2019 ] More banks soon eligible for 18-month exam cycle; OCC issues bulletin OCC
[ January 18, 2019 ] Bank directors, former CEO, face fines for failing to address earlier enforcement action OCC
[ January 18, 2019 ] Consumer bureau publishes 2.5% CMP inflation adjustment CFPB
[ January 18, 2019 ] GAO recommends legislation to define future role of GSEs – including structure and goals OCC
[ January 18, 2019 ] Most Fed districts see modest to moderate growth, says latest Beige Book The Fed

Consumer bureau publishes 2.5% CMP inflation adjustment

January 18, 2019 0

A final rule to implement a 2.5% increase in maximum civil money penalties (CMP) that may be assessed by the Consumer Financial Protection Bureau (CFPB) was signed Jan. 6 by agency Director Kathleen (“Kathy”) Kraninger […]

Kraninger writes Pence, Pelosi in seeking Military Lending Act supervisory authority

January 17, 2019 0

The director of the federal consumer financial protection agency sent House Speaker Nancy Pelosi, Vice President Mike Pence and key House and Senate Committees draft legislation Thursday that she says would give her agency clear […]

Waters makes clear former CFPB acting director’s accountability ‘about to begin’

January 16, 2019 0

The former acting director of the federal consumer financial protection agency may have moved on to become acting White House Chief of Staff, but his actions at the agency are squarely in the crosshairs of […]

Expansive jewelry retailer agrees to $11 million in fines from consumer agency, NY state

January 16, 2019 0

An Ohio-based jewelry retailer – which includes among its name brands some of the most well-known stores across the nation – has agreed to a $10 million civil money penalty to federal authorities and a […]

CFPB blog explains data sources for recent TILA, RESPA rule assessments

January 15, 2019 0

The two assessments released last week of the Consumer Financial Protection Bureau’s (CFPB) 2013 rules on mortgage lending and servicing were performed using a variety of data collected over the previous two years by the […]

Supreme Court denies bank’s petition for review of CFPB constitutionality

January 14, 2019 0

The U.S. Supreme Court on Monday declined to review a Texas bank’s claim that the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Supreme Court Justice Brett Kavanaugh, who as a D.C. Circuit court judge opined […]

CFPB issues Dodd-Frank mortgage reg assessments 5 years after

January 11, 2019 0

Assessments of two Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) rules issued under the 2010 financial reform law focusing on home loan affordability and servicing were announced Thursday by the […]

House committee chairwoman calls on agencies to provide guidance to FIs serving federal workers affected by shutdown

January 11, 2019 0

All federal financial institution regulatory agency leaders are being urged to “consider the needs of consumers who may be experiencing temporary financial hardship in meeting credit obligations as a result of the Trump shutdown” by […]

Regulators respond to Waters: Yes, we can (urge institutions to work with borrowers during shutdown)

January 11, 2019 0

Just minutes after the powerful chairwoman of a House committee overseeing their agencies issued a letter to them, the five federal financial institution regulators issued a joint statement encouraging financial institutions to work with consumers affected […]

Fed picked up tab of $337 million for consumer bureau in 2018

January 10, 2019 0

Payments of $337 million to fund the Consumer Financial Protection Bureau (CFPB), and about $65.4 billion to the U.S. Treasury, were provided by the 12 Federal Reserve Banks last year, according to preliminary results issued […]

1 2 3 … 33 »

More banks soon eligible for 18-month exam cycle; OCC issues bulletin

January 18, 2019 0

A rule that, as of Jan. 28, is expected to make more than 400 additional banks potentially eligible for the 18-month, on-site examination cycle is highlighted in a bulletin issued Thursday to banking institutions supervised by the Office of the [...]
Bank directors, former CEO, face fines for failing to address earlier enforcement action

January 18, 2019 0

Five former directors of a Montana bank were fined $2,000 each – and the bank’s former president and board chairman $10,000 — for failing to take actions to correct issues outlined under a previous consent order their bank agreed to [...]
Consumer bureau publishes 2.5% CMP inflation adjustment

January 18, 2019 0

A final rule to implement a 2.5% increase in maximum civil money penalties (CMP) that may be assessed by the Consumer Financial Protection Bureau (CFPB) was signed Jan. 6 by agency Director Kathleen (“Kathy”) Kraninger and posted Jan. 15 in [...]
GAO recommends legislation to define future role of GSEs – including structure and goals

January 18, 2019 0

Congress should consider legislation for the future federal role of the government-sponsored enterprises (GSEs) in housing finance that addresses their structure and establishes clear, specific, and prioritized goals, as well as considering all relevant entities, the congressional watchdog said in [...]
Most Fed districts see modest to moderate growth, says latest Beige Book

January 18, 2019 0

Signs of continued economic growth – with eight of 12 Federal Reserve districts reporting modest to moderate growth – were noted in the Fed’s latest Beige Book report. “Outlooks generally remained positive, but many Districts reported that contacts had become [...]
OIG report on chairman’s office spending did not benchmark to other agencies, which spend more, NCUA says

January 18, 2019 0

A 2018 inspector general report on spending by the office of the chairman of the federal credit union regulatory agency, conducted in follow-up to an anonymous complaint, omitted any benchmarking with similar spending of other agencies (none specified) and with [...]