CFPB – Page 2 – Regulatory Report

What's up

[ May 24, 2019 ] FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts Other
[ May 24, 2019 ] Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds The Fed
[ May 23, 2019 ] Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists The Fed
[ May 23, 2019 ] Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule OCC
[ May 23, 2019 ] OCC advisory panel on minority institutions meets June 12 in Dallas OCC

UPDATED: CFPB Town Hall May 8 will focus on debt collection

April 29, 2019 0

A town hall meeting on debt collection is slated by the Consumer Financial Protection Bureau (CFPB) for May 8 in Philadelphia, to be aired live and featuring remarks from bureau Director Kathleen Kraninger, according to […]

Bureau offers a lifeline (of sorts) to prepaid issuers in submitting agreements through Collect

April 26, 2019 0

Prepaid account issuers get some help in using Collect, the federal consumer financial protection agency’s online channel for submitting account agreements by Wednesday, May 1, the deadline for making first submissions under new rules, according […]

CFPB, in RFI, seeks input on remittance rule coverage, temporary disclosures exception

April 25, 2019 0

How to mitigate the impact on remittance providers of next year’s expiration of a remittance rule disclosure exception, and just what firms are subject to the rule itself, is the focus of a Consumer Financial […]

CFPB corrects October 2018 remittance rule assessment report

April 24, 2019 0

An assessment report to Congress sent in October on the Consumer Financial Protection Bureau (CFPB) remittance rule has been revised and reposted to the bureau’s website, the agency said Wednesday, to correct an understatement of […]

Bureau’s Academic Research Council sets May meeting

April 24, 2019 0

A meeting of the federal consumer financial protection agency’s Academic Research Council (ARC) is scheduled for May 10, the agency said in a filing with the Federal Register Wednesday. The ARC advises the Consumer Financial Protection […]

Bureau promises more info about violations of law, specifics about supervision authority in future civil investigative demands (CIDs)

April 23, 2019 0

More information about potential violations of law, and specifics about business activities subject to supervision, will be included in future “civil investigative demands” (CIDs), the federal consumer financial protection agency said Tuesday. In a release, […]

Bureau formally announces conferences on consumer protection; first to focus on abusive acts, practices

April 18, 2019 0

A series of conferences “exploring” consumer protections in financial services will be held in the future, the federal consumer financial protection agency said Thursday, with the first to focus on clarifying the meaning of abusive […]

How to clarify ‘abusive acts’ is first topic for coming CFPB symposia, Kraninger says

April 17, 2019 0

A symposia series planned in the coming year by the Consumer Financial Protection Bureau (CFPB) will focus on topics related to the bureau’s mission, beginning with a look at clarifying the meaning of “abusive acts […]

CFPB: Veterans have pathway from financial skill to financial well-being, analysis of survey finds — yet questions remain

April 9, 2019 0

Veterans report higher levels of financial well-being than the average U.S. adult, and there is a pathway from financial skill to that well being, an analysis released Tuesday stated. The evaluation released by the Consumer […]

CFPB OMWI report cites strong promotion numbers for women, minorities in FY2018

April 4, 2019 0

Women and minority employees at the Consumer Financial Protection Bureau (CFPB) were promoted within the organization at higher rates than their representation within the bureau workforce, according to a annual report by the bureau’s Office […]

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FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts

May 24, 2019 0

Treasury’s financial crimes unit on Friday announced a new program that will allow financial institutions, technology providers, and other firms involved in financial services the chance to present new, emerging innovative products and services and approaches designed to enhance anti-money [...]
Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds

May 24, 2019 0

Large banks believe they could be holding much lower reserve balances – about 40% less – than they are holding now, largely because of the continued low-interest-rate environment, according to the results of a survey of senior financial officers released [...]
Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists

May 23, 2019 0

Three in four U.S. adults said in 2018 that, financially at least, they were “doing OK” or “living comfortably” – up 12 percentage points from 2013 – according to the results of a survey released Thursday by the Federal Reserve. [...]
Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule

May 23, 2019 0

Federal savings associations (FSAs) that had total consolidated assets of $20 billion or less as of Dec. 31, 2017, can elect to operate as “covered” savings associations and enjoy the same rights and privileges as a national bank under a [...]
OCC advisory panel on minority institutions meets June 12 in Dallas

May 23, 2019 0

A public meeting of the panel that advises the Office of the Comptroller of the Currency (OCC) on issues affecting minority depository institutions is set for 1 p.m. Central time in Dallas, the OCC announced Thursday. The Minority Depository Institutions [...]
Fed plans test operation of term deposit facility next week; ‘no implications for monetary policy’

May 23, 2019 0

One operation this month of the Term Deposit Facility (TDF) will be tested by the Federal Reserve, with the aim of ensuring its operational readiness and providing the institutions that may use it some degree of familiarity, the agency said [...]
More public unit and nonmember shares would be OK for credit unions under NCUA proposed rule

May 23, 2019 0

The basis for measuring the regulatory limit on nonmember and public unit shares that federally insured credit unions (FICUs) may hold would change – in many cases increasing the dollar amount that could be held – under a proposed rule [...]
Aids for credit union chartering, identifying low-income areas for service focus of CURE office at NCUA

May 23, 2019 0

The federal agency that charters and regulates federal credit unions says it’s planning to offer more resources for credit unions to identify low-income areas they might serve, and information for those seeking to charter a new credit union, through its [...]