CFPB – Page 114 – Regulatory Report

What's up

[ May 8, 2025 ] OCC restores previous merger act rules; comments due in 30 days OCC
[ May 7, 2025 ] Regulator opens door to banks buying, selling crypto assets held in custody – the latest in rolling back crypto hurdles OCC
[ May 6, 2025 ] ‘Buy now, pay later’ rule not a priority for enforcement, CFPB says; rescission to be considered CFPB
[ May 5, 2025 ] OCC’s RFI asks about obstacles to community banks going digital OCC
[ May 5, 2025 ] FDIC ratings under CRA show 3 banks ‘outstanding’ and 2 ‘needs to improve’ FDIC

‘Roundtables’ of trade, consumer groups give feedback on two of top three RFI topics, bureau says

July 27, 2018 0

Two out of the top three topic areas of the recently concluded “call for evidence” by the federal consumer financial protection agency about how it is performing its role were the subject of roundtables held […]

With comments closed on 12 RFIs, three topics dominate public response to consumer agency

July 23, 2018 0

One week after the “comments due” date had passed on the final of 12 requests for information (RFIs) from the federal consumer financial protection agency, the total of 88,564 letters received overwhelmingly focuses on three […]

TCF National to pay $25 million for ‘obscured’ overdraft fees

July 20, 2018 0

A Minnesota banking company has agreed to pay $25 million in restitution to customers for “obscured” overdraft fees that they were charged, and has agreed to an injunction to prevent future violations, the federal consumer […]

‘Pawn Shop’ operator agrees to $1.5 million judgment – but will only pay one-third of that

July 19, 2018 0

A “small dollar lender” which operates under the name “Quik Pawn Shop” (among others) faces a judgment of $1.5 million for failing to properly disclose finance charges associated with its auto title loans – but […]

BCFP nominee Kraninger offers few specifics on how she would direct enforcement if confirmed

July 19, 2018 0

Kathleen Kraninger, the president’s choice to head the Bureau of Consumer Financial Protection (BCFP), in her brief opening statement and during Q&A, embraced the bureau’s mission but revealed little detail during a Senate Banking Committee […]

Mulvaney names lead for bureau ‘Office of Innovation’

July 19, 2018 0

The acting director of the federal consumer protection bureau on Wednesday announced the appointment of Paul Watkins as the “director” of the recently created Office of Innovation, which will take over the work that was […]

Study on CMP inflation leaves out FI regulators – but wants more info from Treasury (including OCC)

July 18, 2018 0

A congressional oversight agency review of civil money penalty (CMP) reporting by federal agencies does not contain information from federal financial institution regulators, primarily because those agencies are not generally required to file agency financial […]

House passes JOBS Act 3.0 with bank, credit union provisions intact

July 17, 2018 0

The House, on Tuesday voting 406-4, passed a broad, bipartisan capital-formation measure that would also reduce the frequency of banking company resolution plans (living wills), provide a safe harbor for financial institutions keeping some suspicious […]

12 ‘RFIs’ close out with 792 comments received on ‘consumer complaint, inquiry handling processes’

July 17, 2018 0

The final of 12 “requests for information” (RFI) from the federal consumer financial protection agency generated 792 comments as of midnight Monday, contributing to a grand total of more than 88,000 comments submitted on the […]

THIS WEEK: BCFP nomination hearing, Fed chief testimony dominate busy week

July 13, 2018 0

A hearing on a high-profile nomination and testimony (twice) from the leader of the nation’s central bank are among the highlights of this week’s activities affecting federal financial institution regulation. The nomination of Kathleen “Kathy” […]

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OCC restores previous merger act rules; comments due in 30 days

May 8, 2025 0

The national bank regulator is restoring its pre-2024 business combinations rule under the Bank Merger Act (BMA), undoing the rule adopted last September and also rescinding its related policy statement. The changes by the Office of the Comptroller of the [...]
Regulator opens door to banks buying, selling crypto assets held in custody – the latest in rolling back crypto hurdles

May 7, 2025 0

National banks and federal savings associations may buy and sell crypto assets held in custody, the national bank regulator confirmed Wednesday in an interpretive letter. The Office of the Comptroller of the Currency (OCC) said the banks may transact the [...]
‘Buy now, pay later’ rule not a priority for enforcement, CFPB says; rescission to be considered

May 6, 2025 0

Enforcement of last year’s interpretive rule on “buy now, pay later” loans will not be prioritized and could be rescinded in the future, the Consumer Financial Protection Bureau (CFPB), the bureau said Tuesday. As with other rules the bureau has [...]
OCC’s RFI asks about obstacles to community banks going digital

May 5, 2025 0

Questions about the key challenges and barriers faced by community banks in adopting and implementing digital banking solutions are posed in a request for information (RFI) announced Monday by the national banking regulator. The Office of the Comptroller of the [...]
FDIC ratings under CRA show 3 banks ‘outstanding’ and 2 ‘needs to improve’

May 5, 2025 0

Of the 64 banks assigned ratings under the federal anti-redlining statute this February, three were rated “outstanding” and 2 were rated “needs to improve,” the federal bank deposit insurer said Monday. The remaining 57 banks were deemed “satisfactory” under the [...]
Enforcement of ECOA small-business loan data collection deprioritized at CFPB

May 1, 2025 0

Add the agency’s Equal Credit Opportunity Act (ECOA) small-business loan data collection rule to those the Consumer Financial Protection Bureau (CFPB) won’t be going out of its way to enforce. The bureau said Wednesday that in light of a stay [...]
Nearly half of 25 banks evaluated in April by OCC earn ‘outstanding’ CRA ratings

May 1, 2025 0

About half of banks – out of 25 total – earned “outstanding” ratings for their compliance with anti-redlining regulations during April, the regulator of national banks said Thursday. In its latest monthly release of ratings for compliance with Community Reinvestment [...]
Texas commissioner re-elected as chair of state liaison committee to Exam Council

May 1, 2025 0

The Texas commissioner of banking will serve as the chair of the state regulator liaison committee for another year to the umbrella group of federal financial institution regulators, the agency announced Thursday. Charles G. Cooper, commissioner of the Texas Department [...]