CFPB – Page 124 – Regulatory Report

What's up

[ April 26, 2024 ] WA bank fined $500k over FTC Act, RESPA violations FDIC
[ April 26, 2024 ] Five new members of community banking advisory panel named; will join May 2 meeting FDIC
[ April 25, 2024 ] Competing proposals to change rules on Bank Control Act withdrawn after neither can win majority of FDIC Board votes FDIC
[ April 25, 2024 ] FDIC: Deposit Insurance Fund on track to reach statutory minimum before deadline FDIC
[ April 25, 2024 ] CFPB’s consumer panel to meet May 15 CFPB

Suit alleges illegal fees sought from debt relief law firms, attorneys

January 30, 2017 0

Law firms and individual attorneys offering debt relief services were sued today by the CFPB for collaborating to allegedly charge “illegal fees” to consumers seeking debt relief, the consumer agency announced today. The suit filed […]

Bureau fines mortgage servicers for ‘giving runaround’ to consumers

January 23, 2017 0

“Giving the runaround” to homeowners seeking options to save their homes is cited as the impetus behind a $28.8 million order by the CFPB to two mortgage servicing subsidiaries of one of the nation’s largest […]

Bank sued for ‘tricking consumers’ into overdraft fees

January 19, 2017 0

TCF National Bank, a Minnesota-based bank with operations in seven states, was sued today by the CFPB for allegedly “tricking consumers” into costly overdraft services and fees. In its filing, CFPB claimed that TCF designed […]

Suit claims ‘systematic’ failure of student borrowers

January 18, 2017 0

A lawsuit against the nation’s largest servicer of federal and private student loans – charging the group “systematically and illegally” failed borrowers at every stage of repayment – has been filed by the CFPB, seeking […]

Compliance bulletin focuses on ‘production incentives’

January 17, 2017 0

“Production incentives” are the topic of a compliance bulletin published today by the CFPB, which highlights examples where incentives “contributed to substantial consumer harm” and which describes compliance management steps CFPB-supervised entities should take to […]

Survey: ‘troubling problems’ in debt collection industry

January 12, 2017 0

More than one in four consumers contacted by debt collectors feel threatened – and three in four of consumers report that debt collectors do not honor their request that collectors leave them alone, according to […]

House Dems to Trump: Firing Cordray tempts protracted legal battle

January 11, 2017 0

House Democrats in a letter have urged President-elect Donald Trump to reject calls to fire CFPB Director Richard Cordray, made in an earlier letter from Republican senators. In their letter on Tuesday, signed by Rep. […]

Senators call on Trump to fire Cordray (despite appeal)

January 10, 2017 0

Donald Trump, “promptly after his inauguration” as president, should fire CFPB Director Richard Cordray, two senators have written to the vice president-elect, despite an on-going legal battle over whether the director may be fired before […]

Chief of staff, other leadership positions named

January 7, 2017 0

Leandra English will be the CFPB’s chief of staff, returning to an agency she served previously as deputy chief operating officer and in other senior positions, the bureau announced today while also naming several other […]

Nearly 40% of older student borrowers in default, report finds

January 5, 2017 0

Nearly 40 percent of federal student loan borrowers age 65 and older were in default in 2015, according to a report released today by the CFPB, as many borrowers deal with payments on student loans […]

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WA bank fined $500k over FTC Act, RESPA violations

April 26, 2024 0

A bank that the federal bank deposit insurer said violated Federal Trade Commission (FTC) Act and Real Estate Settlement Procedures Act (RESPA) rules was assessed a $500,000 civil money penalty (CMP) in March, the Federal Deposit Insurance Corp. (FDIC) said [...]
Five new members of community banking advisory panel named; will join May 2 meeting

April 26, 2024 0

Five new members of the community banking advisory committee to the federal bank deposit insurance agency were named Friday by the organization, which also said the group will attend its first meeting May 2. The Federal Deposit Insurance Corp. (FDIC) [...]
Competing proposals to change rules on Bank Control Act withdrawn after neither can win majority of FDIC Board votes

April 25, 2024 0

Neither of two competing proposals for changes to the federal bank deposit insurer’s rules implementing the Bank Control Act (BCA) were adopted Thursday by the agency’s board after sponsors of the two proposals withdrew them, largely after it became apparent [...]
FDIC: Deposit Insurance Fund on track to reach statutory minimum before deadline

April 25, 2024 0

The federal bank deposit insurer’s Deposit Insurance Fund (DIF) reserve ratio grew from 1.11% June 2023 to 1.15% in December and remains on track to return to its statutory minimum of 1.35% before its statutory deadline of Sept. 30, 2028, [...]
CFPB’s consumer panel to meet May 15

April 25, 2024 0

A public meeting of the Consumer Advisory Board (CAB) of the federal consumer financial protection agency is slated for May 15 from 10:30 a.m. to 1 p.m. Eastern. CAB is charged with advising and consulting with the Consumer Financial Protection [...]