CFPB – Page 3 – Regulatory Report

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[ July 16, 2019 ] Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds CFPB
[ July 16, 2019 ] In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules FDIC
[ July 16, 2019 ] UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor FDIC
[ July 15, 2019 ] Call reports due at end of month, but not yet for ‘streamlined’ reports for smaller banks (due after 3Q) FDIC
[ July 15, 2019 ] Week ahead: Deposit insurer, credit union regulator boards meet; Powell speaks in Paris NCUA

Consumer bureau announces $1.75 million civil money penalty against Freedom Mortgage Corporation, cites HMDA violations

June 5, 2019 0

A fine of $1.75 million was assessed against Freedom Mortgage Corporation, one of the 10 largest Home Mortgage Disclosure Act (HMDA) reporters nationwide, in connection with a settlement announced Wednesday by the Consumer Financial Protection […]

Bureau reports nearly 8.5% reduction in workforce for FY 2018

June 4, 2019 0

A contraction in workforce of nearly 8.5% at the federal consumer financial protection agency – translating to 139 employees – at the end of the last fiscal year is reported in a status report made […]

New group of questions, answers focus on three areas of TRID compliance

May 31, 2019 0

Three new groups of questions and answers on selected topics related to compliance with disclosure requirements for most closed-end borrower real estate transactions are now published by the federal consumer financial protection agency Friday. The […]

Link between credit scores and when consumers apply for credit cards examined in bureau report

May 30, 2019 0

Consumers’ credit-card application rates drop sharply as consumers reach their minimum credit scores but trend “steadily upward” after they hit bottom, according to a report Thursday from the federal consumer financial protection agency. Additionally, the […]

Bureau assesses penalty of $200k, directs restitution of $36k, for Texas mortgage servicers’ shortcomings

May 29, 2019 0

A civil money penalty of $200,000 and restitution of $36,000 must be paid by a Texas mortgage servicer under the terms of a settlement announced Wednesday by the federal consumer financial protection agency. The Consumer […]

Action to delay CFPB payday rule provisions slated for June, biz-lending data back on reg schedule

May 22, 2019 0

A delay in certain provisions of its payday rule is slated for final action in June by the Consumer Financial Protection Bureau (CFPB), according to details of the agency’s spring 2019 regulatory agenda. But the […]

Consumer bureau’s consumer advisory board, bank and CU advisory councils, scheduled to meet June 5-6

May 21, 2019 0

Meetings of advisory councils and board of the federal consumer financial protection agency are on tap for next month, according to notices set for publication as early as Wednesday. In filings with the Federal Register […]

Bureau wants to punish law firm for alleged phony involvement of attorneys in debt collection suits

May 20, 2019 0

Attorneys at a law firm were not “meaningfully involved” in preparing or filing lawsuits over debt collection despite the law firm’s alleged representation that they were – and that was enough to trigger a lawsuit […]

Bureau’s debt collection proposal in Federal Register Tuesday, out for comment until late August

May 20, 2019 0

The Consumer Financial Protection Bureau’s (CFPB) proposal that, among other things, would allow debt collectors to attempt to contact consumers up to seven times a week by phone over a specific debt will be out […]

Proposed debt collection rule allows up to seven phone contacts a week with consumers

May 7, 2019 0

Debt collectors would be allowed up to seven telephone-contact attempts a week with consumers about a specific debt under a proposal issued by the federal consumer financial protection agency Tuesday. In a release, the Consumer […]

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Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds

July 16, 2019 0

Expectations about reasonable procedures for assuring maximum possible accuracy, and reasonable investigations of consumer disputes, should be communicated to consumer reporting agencies (CRAs) by the federal consumer financial protection agency, the congressional watchdog said in a report issued Tuesday. The [...]
In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules

July 16, 2019 0

In Tuesday’s meeting of the Federal Deposit Insurance Corp. (FDIC) Board, Chairman Jelena McWilliams and Board Member Martin Gruenberg – the only two appointed members of the board – stood on opposite sides of two key issues before the board. [...]
UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor

July 16, 2019 0

The two appointed members of the federal bank deposit insurer board split on approval of final and proposed rules at their meeting Tuesday, with one citing an erosion of safeguards adopted in the wake of the financial crisis as his [...]