CFPB – Regulatory Report

What's up

[ February 26, 2021 ] Comments sought on new call report items to monitor funding stability of sweep deposits FDIC
[ February 25, 2021 ] Agencies update 4 sections of BSA/AML exam manual FDIC
[ February 26, 2021 ] FDIC lists 440 banks on second-, third-quarter CRA exam schedules FDIC
[ February 26, 2021 ] Former loan relationship officer at MA bank who received loan proceeds fined $50k FDIC
[ February 26, 2021 ] Former NY credit union supervisory committee member is barred NCUA

CFPB may ‘revisit’ seasoned QM final rule, will ‘shortly’ propose delayed compliance date for general QM rule

February 24, 2021 0

Whether to revoke or revise the “seasoned” qualified mortgage (QM) final rule issued in December is a question being mulled at the Consumer Financial Protection Bureau (CFPB), according to a statement issued Tuesday. The bureau, […]

Small-entity compliance guide on ATR/QM rule updated by bureau

February 24, 2021 0

Updates to the small-entity compliance guide on the ability-to-repay/qualified mortgage (QM) rule were issued Tuesday by the federal agency for consumer financial protection. The updated guide from the Consumer Financial Protection Bureau (CFPB) reflects amendments […]

CFPB and 3 states sue firm over predatory immigrant services, violation of Dodd-Frank

February 22, 2021 0

A firm alleged to have engaged in a predatory scam that traps immigrants held in detention by Immigration and Customs Enforcement (ICE) into paying expensive, long-term fees is being sued jointly by the Consumer Financial […]

Three agencies’ final rules on role of supervisory guidance take effect in March

February 16, 2021 0

Final rules published by three financial industry regulators on the role of supervisory guidance are slated to take effect March 5 and March 15, according to Federal Register notices published recently. The proposed rule, to […]

Bureau changes direction for consumer education unit; promises vigorous pursuit of complaints

February 11, 2021 0

Stating that the division of consumer education should “redouble its efforts to ensure the Bureau engages all consumers who are economically suffering,” the acting director of the Consumer Financial Protection Bureau (CFPB) Wednesday issued a […]

CFPB acting chief announces attorney recruitment effort; ‘we need fullest talents, passions of American public’

February 9, 2021 0

An effort to recruit attorneys “at all experience levels” to the federal consumer financial protection agency was announced Tuesday by its acting director in an effort, he said, to achieve “vigorous oversight of all applicable […]

CFPB’s Uejio directs end to COVID-19-related ‘pause’ on quarterly HMDA reporting, data collections; will review past reg actions against consumer protection mission

February 4, 2021 0

The acting director of the consumer financial protection agency directed staff to end the agency’s “pause” implemented around the start of the COVID-19 pandemic on quarterly Home Mortgage Disclosure Act (HMDA) reporting, CARD Act data […]

NCUA letter notes 2021 asset-size threshold adjustments under mortgage, credit report rules

February 4, 2021 0

Asset-size threshold adjustments for 2021 under federal mortgage regulations, and the annual adjustment for consumer report fee limits, are detailed for credit unions in National Credit Union Administration (NCUA) Letter to Credit Unions 21-RA-02, released […]

Incoming Senate panel chairman praises CFPB nominee; discussed plans to ‘rebuild the bureau’

February 4, 2021 0

Perhaps unsurprisingly, the nominee to lead the federal consumer financial protection agency has won glowing praise from the incoming leader of the Senate Banking Committee following a video call between the two. That praise included […]

CFPB updates list of consumer reporting firms; amid COVID-19, nationwide firms must provide weekly reports for free through April

February 1, 2021 0

An updated list of consumer reporting companies – including the three nationwide firms as well as “dozens”of specialty firms – has been published by the federal consumer financial protection agency, the agency said in a […]

1 2 3 … 82 »

Comments sought on new call report items to monitor funding stability of sweep deposits

February 26, 2021 0

Comments are sought on a proposal issued jointly by the three federal banking agencies that would add items to call reports to help evaluate the funding stability of sweep deposits over time, according to a Financial Institution Letter (FIL) from [...]
Agencies update 4 sections of BSA/AML exam manual

February 25, 2021 0

Updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual were released Thursday by federal banking and credit union regulators and the State Liaison Committee of the Federal Financial Institutions Examination Council (FFIEC). Sections updated were the [...]
FDIC lists 440 banks on second-, third-quarter CRA exam schedules

February 26, 2021 0

A total of 440 banks throughout the Federal Deposit Insurance Corp.’s (FDIC) six regions are slated to receive evaluations under a federal anti-redlining law over the second and third quarters of 2021, information released by the agency Friday shows. The [...]
Former loan relationship officer at MA bank who received loan proceeds fined $50k

February 26, 2021 0

A batch of 11 enforcement orders by the federal bank deposit insurer in January includes two involving a former loan relationship officer whose actions reportedly led to a $3.3 million loss to his employer bank, according to information released Friday. [...]
Former NY credit union supervisory committee member is barred

February 26, 2021 0

A former credit union supervisory committee member who pleaded guilty to a charge of embezzlement has been barred from future service in any federally insured financial institution, according to the single February enforcement order announced Friday by the federal credit [...]