CFPB – Page 117 – Regulatory Report

What's up

[ August 29, 2025 ] OCC cuts assessment rates for national banks, federal savings associations as of Sept. 30 OCC
[ August 29, 2025 ] Three prohibited from further service at banks after alleged misappropriation of funds, misrepresentations FDIC
[ August 29, 2025 ] FDIC removes references to ‘disparate impact’ – including how to evaluate risk – from compliance exam manual FDIC
[ August 29, 2025 ] Former credit union CEO caused more than $1.7 million in losses, order says NCUA
[ August 28, 2025 ] Chinese money launderers in U.S., used by Mexico-based drug cartels, target of advisory Other

Agreement includes $335 million in restitution payment by Citibank for failure to reduce credit card rates

June 29, 2018 0

One of the nation’s largest banks must pay $335 million in restitution for failing to reevaluate and reduce the annual percentage rates (APRs) for approximately 1.75 million consumer credit card accounts, the federal consumer financial […]

RFI No. 9 on ‘inherited regs, authorities’ generates second-fewest number of comments to consumer bureau

June 26, 2018 0

The ninth “request for information” (RFI) by the federal consumer financial protection agency generated only 38 comments, as of midnight Monday, the second-fewest produced in one request so far in the program by the agency […]

Federal court rules consumer bureau structure unconstitutional, setting up likely high court decision

June 21, 2018 0

Setting up a likely hearing at the Supreme Court of the U.S., a federal court in New York ruled Thursday that the structure of Bureau of Consumer Financial Protection (BCFP, formerly known as the CFPB) […]

Now they are official: White House transmits BCFP, NCUA nominations to Senate

June 20, 2018 0

Nominations were sent to the Senate Wednesday for two individuals recently named by President Donald Trump for positions at the federal consumer financial protection agency and the federal regulator of credit unions. The White House […]

‘Adopted regulations, new rulemaking’ RFI generates 134 comments (less than 1% of all comments so far in series of 12 RFIs)

June 20, 2018 0

Comments on a “request for information” (RFI) about “Adopted Regulations and New Rulemaking Authorities” by the federal consumer financial protection agency totaled 134 as of the deadline Tuesday at midnight, according to the website that […]

Current consumer bureau leader extols experience of nominee to take his place

June 19, 2018 0

Stating that he knows his “efforts to rein in the bureaucracy” at the federal consumer financial protection agency would be continued by the person nominated to take his place at the helm of the agency, […]

UPDATED: White House sends nomination of OMB staffer as head of consumer bureau to Senate

June 18, 2018 0

For Kathleen “Kathy” Kraninger, being nominated by the White House as the next permanent director of the Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) is another line of government service on her […]

THIS WEEK: Top bank regulators speak, credit union regulator mulls rules, Powell talks, BCFP nominee deadline

June 15, 2018 0

The coming week brings another deadline for comments in the consumer bureau’s series of “call for evidence” requests for information (RFIs), speeches by the top banking regulators, an open credit union agency board meeting and […]

It’s ‘complaint,’ not ‘compliant,’ bureau notes in correcting its own notice

June 14, 2018 0

What a difference a word makes. Turns out that a request for information (RFI) by the Bureau of Consumer Financial Protection (BCFP) in May had a typo in its headline, resulting in “compliant” being substituted […]

Legal haggling over payday loans keeps rule’s effective date in force

June 14, 2018 0

Legal haggling over the federal consumer financial protection agency’s regulation of payday loans took a new turn in federal court in Texas Tuesday when a district court judge found the regulation’s effective date remains in […]

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OCC cuts assessment rates for national banks, federal savings associations as of Sept. 30

August 29, 2025 0

The national bank regulator is reducing semiannual assessments on supervised institutions slated for Sept. 30, the agency announced Friday. Calling it the fifth such reduction since 2017, the Office of the Comptroller of the Currency (OCC) said it has reduced [...]
Three prohibited from further service at banks after alleged misappropriation of funds, misrepresentations

August 29, 2025 0

A former “senior universal banker” and teller at a Massachusetts bank has been prohibited from further service at a financial institution and ordered to pay a $12,000 civil money penalty (CMP), the federal bank deposit insurance agency said Friday. According [...]
FDIC removes references to ‘disparate impact’ – including how to evaluate risk – from compliance exam manual

August 29, 2025 0

References to “disparate impact” – the result of practices unintentionally having a disproportionate, negative effect on a protected group, including minorities – are now erased from an examination manual issued by the federal bank deposit insurance agency, it said Friday. [...]
Former credit union CEO caused more than $1.7 million in losses, order says

August 29, 2025 0

A former Wisconsin credit union CEO who reportedly caused her credit union losses exceeding $1.7 million is permanently barred from service in any federally insured financial institution, according to a consent order announced Friday by the National Credit Union Administration [...]
Chinese money launderers in U.S., used by Mexico-based drug cartels, target of advisory

August 28, 2025 0

Chinese money laundering networks (CMLNs) in the U.S. that are used by Mexico-based drug cartels — dubbed a “mutualistic relationship” — are the target of an advisory to banks, the Treasury’s top financial crimes enforcement arm said Thursday. The Financial [...]
OCC shows 102 banks slated for CRA exams in Q4 2025, Q1 2026

August 28, 2025 0

A total of 102 national banks and federal savings associations are slated for their anti-redlining Community Reinvestment Act (CRA) evaluations over the final quarter of 2025 and the first quarter of 2026, according to their federal regulator. The Office of [...]
Audit produces 10 recommendations for improving NCUA info security

August 27, 2025 0

The federal credit union regulator’s information security program was found to be “effective overall” in a recent independent audit report, but the auditor reported five new weaknesses in the controls selected for review and gave 10 recommendations for improvements. The [...]
Registration for NCUA’s closed town hall open until Friday

August 27, 2025 0

Registration for the off-the-record “strategic plan” town hall slated for Sept. 9 by the federal credit union regulator remains open until Friday, the agency reminded in a release Wednesday. The meeting, to be held virtually, is described as “off the [...]
Profitability down for banks at midyear, continuing decline from year ago; DIF exceeds statutory minimum, ending restoration plan

August 26, 2025 0

Return on assets (ROA) for the nation’s banks was down at midyear as was net income, which the federal bank deposit insurance agency Tuesday blamed on an increase in provision expenses related to a large bank acquisition. Absent that, the [...]