CFPB – Page 25 – Regulatory Report

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[ May 7, 2025 ] Regulator opens door to banks buying, selling crypto assets held in custody – the latest in rolling back crypto hurdles OCC
[ May 6, 2025 ] ‘Buy now, pay later’ rule not a priority for enforcement, CFPB says; rescission to be considered CFPB
[ May 5, 2025 ] OCC’s RFI asks about obstacles to community banks going digital OCC
[ May 5, 2025 ] FDIC ratings under CRA show 3 banks ‘outstanding’ and 2 ‘needs to improve’ FDIC
[ May 1, 2025 ] Enforcement of ECOA small-business loan data collection deprioritized at CFPB CFPB

Nonbank contracts claiming to waive consumer rights would be subject to registry under proposal

January 11, 2023 0

Contracts by nonbanks that claim to waive or limit consumer rights and protections – including bankruptcy and liability amounts – would be subject to a public registry of terms and conditions under a proposal issued […]

Agencies announce lawsuit against auto lender for misrepresenting credit costs, ‘tricking customers’

January 4, 2023 0

Misrepresenting the cost of credit and tricking customers into high-cost loans on used cars are charges leveled against a Michigan auto lender by the New York Attorney General and the federal consumer financial protection agency […]

Annual report on consumer reporting firms finds improvements, but more actions suggested

January 3, 2023 0

Considerations for the nationwide consumer reporting companies to improve compliance with consumer financial protection laws and, ostensibly, to serve consumers better, is the asserted aim of annual report issued Tuesday by the federal consumer financial […]

HMDA, TILA asset-size exemption thresholds raised for 2023

December 28, 2022 0

Two final rules increasing the asset-size exemption thresholds for institutions required to report mortgage activity and to establish escrows for certain higher-priced mortgage loans (HPMLs) were published this week by the Consumer Financial Protection Bureau […]

Bureau raises 2023 TILA thresholds for higher-cost mortgages, QMs

December 23, 2022 0

There is no change in the $1 amount triggering minimium interest charge disclosures for open-end consumer credit plans for 2023, but the consumer financial protection agency is raising other amounts that will apply to certain […]

Remittance firm ordered to refund fees, pay penalty, after charges of failing to follow regulations

December 22, 2022 0

A remittance provider has been ordered to refund fees and pay a penalty after allegedly failing to provide refunds on thousands of transactions, the consumer financial protection agency said Thursday. The order against Servicio UniTeller, […]

Household financial health fell in 2021, report asserts, with some key groups falling further

December 21, 2022 0

Household financial health is in decline, with a “rapid deterioration” in financial health for some key groups, according to a new report issued Wednesday by the federal consumer financial protection agency. In its 2022 Making […]

Wells Fargo faces $3.7 billion in redress, fines for ‘widespread mismanagement’ of customer accounts

December 20, 2022 0

Citing “widespread mismanagement of auto loans, mortgages, and deposit accounts,” the federal consumer financial protection agency ordered $3.7 billion to be paid in fines and redress by one of the nation’s largest banks, the agency […]

Higher income borrowers took advantage of low rates, paperless process, during first year of pandemic, report finds

December 13, 2022 0

The first year of the coronavirus crisis led more higher-income borrowers to seek new mortgages or refinancings, and pushed more to consider “paperless” online mortgage borrowing, according to a report issued Tuesday by two federal […]

CFPB proposes public registry of nonbank offenders of consumer financial protections, one aim being to ID repeat offenders

December 12, 2022 0

Nonbank financial firms that become subject to local, state, or federal consumer financial protection agency or court orders under laws enforceable by the federal Consumer Financial Protection Bureau (CFPB) would be required to register with […]

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Regulator opens door to banks buying, selling crypto assets held in custody – the latest in rolling back crypto hurdles

May 7, 2025 0

National banks and federal savings associations may buy and sell crypto assets held in custody, the national bank regulator confirmed Wednesday in an interpretive letter. The Office of the Comptroller of the Currency (OCC) said the banks may transact the [...]
‘Buy now, pay later’ rule not a priority for enforcement, CFPB says; rescission to be considered

May 6, 2025 0

Enforcement of last year’s interpretive rule on “buy now, pay later” loans will not be prioritized and could be rescinded in the future, the Consumer Financial Protection Bureau (CFPB), the bureau said Tuesday. As with other rules the bureau has [...]
OCC’s RFI asks about obstacles to community banks going digital

May 5, 2025 0

Questions about the key challenges and barriers faced by community banks in adopting and implementing digital banking solutions are posed in a request for information (RFI) announced Monday by the national banking regulator. The Office of the Comptroller of the [...]
FDIC ratings under CRA show 3 banks ‘outstanding’ and 2 ‘needs to improve’

May 5, 2025 0

Of the 64 banks assigned ratings under the federal anti-redlining statute this February, three were rated “outstanding” and 2 were rated “needs to improve,” the federal bank deposit insurer said Monday. The remaining 57 banks were deemed “satisfactory” under the [...]
Enforcement of ECOA small-business loan data collection deprioritized at CFPB

May 1, 2025 0

Add the agency’s Equal Credit Opportunity Act (ECOA) small-business loan data collection rule to those the Consumer Financial Protection Bureau (CFPB) won’t be going out of its way to enforce. The bureau said Wednesday that in light of a stay [...]
Nearly half of 25 banks evaluated in April by OCC earn ‘outstanding’ CRA ratings

May 1, 2025 0

About half of banks – out of 25 total – earned “outstanding” ratings for their compliance with anti-redlining regulations during April, the regulator of national banks said Thursday. In its latest monthly release of ratings for compliance with Community Reinvestment [...]
Texas commissioner re-elected as chair of state liaison committee to Exam Council

May 1, 2025 0

The Texas commissioner of banking will serve as the chair of the state regulator liaison committee for another year to the umbrella group of federal financial institution regulators, the agency announced Thursday. Charles G. Cooper, commissioner of the Texas Department [...]