CFPB – Page 3 – Regulatory Report

What's up

[ January 21, 2022 ] Harper nomination to full NCUA Board term, with bipartisan committee vote, headed to full Senate NCUA
[ January 21, 2022 ] Council releases exam information request ‘best practices,’ plan for common authentication for secure systems Other
[ January 21, 2022 ] Final deposit insurance rule combines revocable, irrevocable trusts for coverage, FDIC says FDIC
[ January 21, 2022 ] Credit union regulator to consider proposal on succession planning, hear briefings NCUA
[ January 20, 2022 ] Fed issues paper on CBDCs as ‘first step’ in determining how digital payments could improve safety, effectiveness The Fed

Agencies set 2022 exemption thresholds for consumer leases, consumer credit, appraisals of higher-priced mortgages

November 30, 2021 0

Amounts above, or below, which certain federal disclosure, interest rate, fee, and other requirements and limitations apply for consumer leases, consumer credit, and higher-priced mortgage loans (HPMLs) are revised up nearly 5% for 2022 under […]

Maximum allowable consumer credit report fee set at $13.50 for 2022 under FCRA

November 29, 2021 0

A 50-cent increase in the maximum allowable fee that a nationwide consumer reporting agency or nationwide specialty consumer reporting agency can charge consumers for their credit reports will raise next year’s fee maximum to $13.50, […]

CFPB launches HMDA rule assessment, covering rules and revisions from 2015 forward

November 22, 2021 0

A voluntary assessment of its Home Mortgage Disclosure Act (HMDA) rule – covering everything from the 2015 rule through last year’s revisions – is being undertaken by the Consumer Financial Protection Bureau (CFPB), which is […]

Alarmed about leaks of confidential info via former workers, CFPB leader issues guidance to staff

November 19, 2021 0

Concerned that some former agency employees are exploiting confidential information to make money, the director of the federal consumer financial protection issued guidance Friday calling on current workers to report suspicious activity. In a blog […]

FCC’s reassigned numbers database is a ‘complete and accurate’ database debt collectors can use, consumer bureau says

November 18, 2021 0

A database debt collectors can tap to help ensure the data they use for communications with consumers passes a regulatory smell test has been published by the Federal Communications Commission, according to an email notice […]

GAO gives CFPB clean audit opinion for fiscal 2021, 2020 financial statements

November 15, 2021 0

The financial statements of the Consumer Financial Protection Bureau (CFPB) for fiscal years ending 2021 and 2020 were given an unmodified (or “clean”) audit opinion by the Government Accountability Office (GAO), according to a report […]

CFPB seeks injunction, money penalties from pawn lenders over MLA violations

November 12, 2021 0

Allegations of Military Lending Act (MLA) violations by pawn lenders First Cash, Inc., and its wholly owned subsidiary Cash America West, Inc., are at the root of a lawsuit filed Friday by the Consumer Financial […]

Open-end lines of credit mortgage disclosure data reporting adjusts to 200 at first of new year, agency reminds

November 12, 2021 0

The threshold adjusts to 200 open-end lines of credit for reporting mortgage disclosure data at the start of the new year, the federal consumer financial protection agency reminded Friday. In a publicly released letter, the […]

Bank, credit union regulators cease COVID-related supervisory ‘flexibility’ for mortgage servicers

November 12, 2021 0

Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]

CFPB opens 30-day public comment period on its big-tech data inquiry; input due Dec. 6

November 5, 2021 0

The Consumer Financial Protection Bureau’s (CFPB) inquiry into the business practices of six large technology firms operating payments systems in the United States will be open for public comment until Dec. 6, according to a […]

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Harper nomination to full NCUA Board term, with bipartisan committee vote, headed to full Senate

January 21, 2022 0

Todd Harper’s nomination to a full term on the National Credit Union Administration (NCUA) Board, one of only two nominations approved by the Senate Banking Committee Thursday that won better than a tie vote from the panel, now heads to [...]
Council releases exam information request ‘best practices,’ plan for common authentication for secure systems

January 21, 2022 0

Best practices for requesting examination information from banks, credit unions, and other federally supervised financial institutions, and a common authentication solution for secure access to the regulators’ supervision systems, were issued Friday by the umbrella group for the regulators. The [...]
Final deposit insurance rule combines revocable, irrevocable trusts for coverage, FDIC says

January 21, 2022 0

A final rule aimed at simplifying deposit insurance coverage for deposits held in connection with revocable and irrevocable trusts was approved Friday by the Federal Deposit Insurance Corp. (FDIC) Board, the agency announced. The rule, set to take effect April [...]
Credit union regulator to consider proposal on succession planning, hear briefings

January 21, 2022 0

The board of the federal credit union regulator will consider a proposed rule on succession planning at federal credit unions and a final rule on resetting civil monetary penalties (CMP), and will receive three briefings, when it meets Thursday (Jan. [...]