CFPB – Page 3 – Regulatory Report

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[ January 22, 2020 ] Pair of Fed nominations leaves three seats in regulatory leadership yet to be resolved FDIC
[ January 21, 2020 ] Citibank pays nearly $18 million for violating flood insurance requirements OCC
[ January 21, 2020 ] Operations director named for Western Region of federal credit union regulator NCUA
[ January 21, 2020 ] Credit union regulator’s board to consider supervisory, personnel actions Thursday NCUA
[ January 16, 2020 ] White House finally announces Trump’s intent to nominate pair to Fed seats The Fed

Remittance Transfers under the Electronic Fund Transfer Act (Regulation E)

December 5, 2019 0

Title: Remittance Transfers under the Electronic Fund Transfer Act (Regulation E) Subject: Remittances Agency: CFPB Status: Proposed rule Summary: The Electronic Fund Transfer Act (EFTA), as amended by the Dodd-Frank Wall Street Reform and Consumer […]

Bank, credit union regulators’ statement cites usefulness of alternative data in credit underwriting, notes benefits/risks

December 3, 2019 0

The value of information not typically found in a consumer’s credit report, used against the backdrop of a well-designed compliance management program, is recognized as potentially helpful in credit underwriting in a statement issued jointly […]

Proposal would allow estimates for remittance fee disclosures; raises ‘safe harbor’ to 500 per year

December 3, 2019 0

Some financial institutions could estimate certain remittance fee and exchange rate information – instead of disclosing exact amounts in certain circumstances – under a proposal issued by the federal consumer financial protection agency Tuesday. The […]

Court sets March 3 hearing for arguments over bureau structure, constitutionality

December 3, 2019 0

The future of the federal consumer financial protection agency will be at the forefront at a March 3 hearing by the Supreme Court of a case questioning the agency’s constitutionality. The high court will hear […]

Consumer bureau keeps max allowable credit report charge at $12.50 for 2020

November 27, 2019 0

The maximum charge of $12.50 that consumer reporting agencies may charge consumers for their credit reports will remain unchanged for 2020, the federal consumer financial protection agency said Wednesday. The ceiling on allowable charges under […]

Settlement with military travel lender, servicer, results in $3.5 million ‘suspended judgment,’ $1 penalty

November 26, 2019 0

Settlements with related firms that misrepresented costs of offering and extending financing for airline tickets to members of the military and their families resulted in a “suspended judgment” of nearly $3.5 million, and a civil […]

Bureau reports look at small servicer mortgages, student borrowers in income-drive programs

November 25, 2019 0

Two research papers about small servicers in mortgage lending and the experience of student loan borrowers in income-driven repayment (IDR) programs were issued by the Consumer Financial Protection (CFPB) Friday. The paper on small services, […]

$8.5 million sought to settle allegations of fair credit reporting violations by job screening firm

November 22, 2019 0

A firm that prepares background screening reports on job applicants will be required to pay $6 million in monetary relief to affected consumers – and a $2.5 million civil money penalty – to resolve allegations […]

Future of overdraft rule may be inching toward resolution, bureau regulatory agenda suggests

November 20, 2019 0

Overdraft protection may be coming up again soon at the federal consumer financial protection agency – but it’s not clear precisely when, according to the fall 2019 rulemaking agenda posted by the agency Wednesday. The […]

Bureau wants to hear about effectiveness of integrated disclosures required under TRID rule

November 20, 2019 0

Addressing the effectiveness of integrated disclosures required under federal regulations for real estate transactions is the subject of an assessment to be conducted by the federal consumer financial protection agency, the agency said Wednesday. In […]

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