CFPB – Page 2 – Regulatory Report

What's up

[ September 18, 2023 ] Early fall break for Reg Report; see you Sept. 25 Other
[ September 15, 2023 ] Proposed changes in loan participation rule, report on share insurance fund slated Sept. 21 NCUA
[ September 15, 2023 ] FDIC’s community banking panel set to meet Oct. 5 FDIC
[ September 14, 2023 ] FAQs address CFPB small business lending rule in wake of Texas court decision CFPB
[ September 14, 2023 ] Agency should again use bank survey data in developing economic inclusion plan, OIG recommends FDIC

GAO reminds banking agencies they are tardy in addressing ‘priority recommendations’ on alternative data, blockchain risks, more

August 8, 2023 0

“Priority recommendations” made by the congressional watchdog – and not yet addressed – for the three federal banking regulators are outlined in reports issued by the agency Tuesday. According to the reports issued by the […]

Alleged illegal disabling of vehicles, improper repossessions, makes GA firm target of bureau lawsuit

August 2, 2023 0

Alleged illegal disabling of vehicles, and improper double-billing practices, among other things, have earned a Georgia auto-loan servicer a lawsuit from the federal consumer financial protection agency, it said Wednesday. The lawsuit against USASF Servicing […]

Auto lenders singled out for abusive actions in bureau report; misleading marketing, inflated loan balances alleged

July 26, 2023 0

Auto lenders are singled out for unfair, deceptive, and abusive acts or practices (UDAAP) by the federal consumer financial protection agency in a report issued Wednesday. In releasing the latest version of its Supervisory Highlights, […]

CFPB’s Chopra signals agencies on lookout for AI use by corporate landlords to deny, gouge renters

July 25, 2023 0

Regulators cannot tolerate corporate actors using opaque artificial intelligence (AI) fed by inaccurate information to deny or gouge tenants on rental housing, the director of the federal consumer financial protection agency said Tuesday. In remarks […]

Report outlines alleged risks of ‘employer-driven debt’ for workers

July 20, 2023 0

Risks that “employer-driven debt” poses to workers – by allegedly tying workers to their employers that pay for retraining or other education as a condition of employment – is outlined in a report issued Thursday […]

Utah firm faces lawsuit for ‘bullying, luring,’ threatening consumers in lease to own deals

July 19, 2023 0

Utah firm faces lawsuit for ‘bullying, luring,’ threatening consumers in lease to own deals Using words such as “bullying,” “luring” and “threats” to describe actions taken against consumers, the federal consumer financial protection agency Wednesday […]

Bureau, European Commission open dialog on ‘critical consumer issues,’ including AI, BNPL

July 17, 2023 0

“Critical financial consumer protection issues” will be the focus of joint talks between the federal consumer financial protection agency and its European counterpart, the agencies said Monday. In their joint statement, the Consumer Financial Protection […]

Bureau plans another ‘regcast’ about much-maligned small business lending rule

July 17, 2023 0

The “small business lending rule” issued by the federal consumer financial protection agency will be the subject of a webcast by the agency set for July 25, the agency announced Monday. The Consumer Financial Protection […]

Vocational training outfit sued over deceptive practices by CFPB, state entities

July 13, 2023 0

A company called Prehired that operated a vocational training program was sued Thursday by the Consumer Financial Protection Bureau (CFPB), several state attorneys general and California’s financial protection agency over deceptive marketing and debt collection […]

Medical payment products RFI out for comment until Sept. 11

July 12, 2023 0

Input is due Sept. 11 on a request for information about medical payment products, patients’ experiences with them, and health care providers’ incentives to offer the high-cost products to patients, according to a notice in […]

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Early fall break for Reg Report; see you Sept. 25

September 18, 2023 0

The Regulatory Report is taking an early fall break for this week only; we will resume publication on Monday, Sept. 25.
Proposed changes in loan participation rule, report on share insurance fund slated Sept. 21

September 15, 2023 0

Action on proposed updates to the agency’s rules on loan participation and a report on the credit union share insurance fund are slated next Thursday by the federal regulator of credit unions. The proposed rule, titled Financial Innovation – Loan [...]
FAQs address CFPB small business lending rule in wake of Texas court decision

September 14, 2023 0

The impact of a federal court order freezing implementation of the small business lending rule issued by the federal consumer financial protection agency spawned a new set of “frequently asked questions” (FAQs) by the agency Thursday. The FAQs address an [...]
Agency should again use bank survey data in developing economic inclusion plan, OIG recommends

September 14, 2023 0

Obtaining bank survey data, or some other mechanism, for developing economic inclusion strategic plans (EISP) in the future for the federal bank deposit insurance program is among the recommendations made by the agency’s inspector general in a new report issued [...]
Trading revenue, still dominated by four big banks, slipped in second quarter

September 14, 2023 0

Cumulative trading revenue was down 22.4% – $3.9 billion – in the second quarter compared with the first at banks and savings associations, the regulator of national banks said Thursday. The Office of the Comptroller of the Currency (OCC) said [...]