CFPB – Page 120 – Regulatory Report

What's up

[ May 17, 2024 ] Bureau, facing legal challenges, plans extending compliance date for small business lending rule CFPB
[ May 17, 2024 ] Fed Board denies requests for regulatory action on changes to CAMELS ratings, disclosure of ‘Black Lives Matter’ support The Fed
[ May 17, 2024 ] Arkansas bank with Michigan loan production office agrees to settlement of $1.5 million, worker enforcement actions FDIC
[ May 17, 2024 ] Credit union regulator sets report on savings insurance fund, with or without chairman’s attendance NCUA
[ May 16, 2024 ] ‘CFPB here to stay’ director vows following high court’s ruling that funding mechanism is constitutional CFPB

Outgoing consumer bureau director urges financial institutions to consider adopting new technology to protect customers, members

November 20, 2017 0

New technology making it feasible for financial institutions to enable consumers to exert “much greater control” over their credit cards, debit cards, and other payment methods should be considered for speedy adoption by financial institutions […]

$1.1 million fine levied against software firm for program that sent wrong information about borrowers

November 20, 2017 0

Software errors that led to auto lenders sending incorrect information about more than 1 million borrowers to credit reporting agencies has resulted in a $1.1 million fine and a demand for a plan from the […]

OMB director, long a critic, reportedly considered to run consumer bureau in interim role

November 16, 2017 0

Reports are circulating in Washington that Office of Management and Budget (OMB) Director Mick Mulvaney will be tapped by the White House to lead the Consumer Financial Protection Bureau (CFPB) on an interim basis. Mulvaney […]

Bureau finally publishes final rule on payday, vehicle title loans

November 16, 2017 0

The CFPB today will finally publish its final rule on payday and vehicle title loans — released in Oct. 5 – with an effective day in mid-January (60-days after publication in the Federal Register). As […]

No changes planned for FCRA allowable charges of $12

November 15, 2017 0

Allowable charges will remain unchanged at $12 under the Fair Credit Reporting Act (FCRA), according to a notice set to published Thursday in the Federal Register by the Consumer Financial Protection Bureau (CFPB). The rate […]

Cordray ending tenure at CFPB; White House to appoint ‘acting’

November 15, 2017 0

Saying he will step down before the end of the month, and without revealing future plans, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray Wednesday shared with agency staff that his tenure is ending. Separately […]

Online testing of overdraft disclosures under development

November 14, 2017 0

Online testing of ATM/debit card overdraft disclosures is being developed by the Consumer Financial Protection Bureau (CFPB) to explore consumer understanding – and decision making – in response to overdraft disclosure forms, according to bureau […]

Senators reach agreement on reg relief legislative package

November 13, 2017 0

Thirty-two items under five sections are outlined under Senate financial institution regulatory relief, as sponsored Monday by eight Republicans, eight Democrats and one independent. A key portion of the regulatory relief package: Section 401, which […]

Responses by consumers to debt-collection disclosure forms targets of survey

November 13, 2017 0

A web-based survey intended to gauge responses by consumers to debt collection disclosure forms is under development by the Consumer Financial Protection Bureau (CFPB), according to filings by the agency with the Federal Register. The […]

Consumer experience with access to free credit scores sought; free access list to be updated

November 9, 2017 0

Consumer experience in access to free credit scores – and the performance of organizations, including companies and non-profits, in offering access to the scores – is the subject of a request for information announced by […]

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Bureau, facing legal challenges, plans extending compliance date for small business lending rule

May 17, 2024 0

More time will be allowed to comply with a small business lending rule issued last year by the consumer financial protection agency, it said Friday, “in light of court orders in ongoing litigation.” The Consumer Financial Protection Bureau (CFPB) said [...]
Fed Board denies requests for regulatory action on changes to CAMELS ratings, disclosure of ‘Black Lives Matter’ support

May 17, 2024 0

Two requests for regulatory action – one on disclosure of financial commitments to corporate initiatives – including “Black Lives Matter” — the other on changes to the agency’s rating system for banks — were denied by the Federal Reserve Board, [...]
Arkansas bank with Michigan loan production office agrees to settlement of $1.5 million, worker enforcement actions

May 17, 2024 0

An Arkansas bank operating a loan production office in Michigan has agreed to a $1.5 million civil money penalty (CMP), and nine former employees of the bank have stipulated to individual enforcement actions, the federal bank deposit insurance agency said [...]
Credit union regulator sets report on savings insurance fund, with or without chairman’s attendance

May 17, 2024 0

A quarterly report on the federal insurance program for savings at credit unions is the only item appearing on the May meeting of the credit union regulator’s board, the agency said late Thursday. The National Credit Union Administration (NCUA) Board [...]
‘CFPB here to stay’ director vows following high court’s ruling that funding mechanism is constitutional

May 16, 2024 0

The funding mechanism of the federal consumer financial protection agency is neither novel nor unusual, but an “essential part of the nation’s financial regulatory system,” the director of the agency said in a statement Thursday following a U.S. Supreme Court [...]