CFPB – Page 35 – Regulatory Report

What's up

[ May 8, 2025 ] OCC restores previous merger act rules; comments due in 30 days OCC
[ 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

International exercise Saturday focuses on GSIB resolution, cross-border resolution

April 19, 2022 0

A series of regular exercises and exchanges among the principals of key financial sector authorities in the United States, United Kingdom, and the European Banking Union is slated Saturday, the U.S. federal bank deposit insurer […]

CFPB notes top issues cited in 2021 consumer debt collection complaints

April 18, 2022 0

Top issues raised by consumers in the some 121,700 debt collection complaints received last year by the federal consumer financial protection bureau included the debt not being theirs, problems with written notifications, and being threatened […]

TransUnion, top executive sued for continued violations of 2017 order to stop deceptive marketing

April 12, 2022 0

Continuing violations of a 2017 enforcement order to stop deceptive marketing have led to a lawsuit against one of the three largest credit reporting firms and one of its longtime executives by the federal consumer […]

Comments due May 9 on proposal protecting human trafficking survivors from negative credit reports

April 11, 2022 0

A proposed rule prohibiting consumer reporting agencies (CRAs) from including negative information resulting from abuse of human trafficking survivors in those individuals’ credit reports is subject to a public comment period that concludes May 9. […]

Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking (Regulation V)

April 11, 2022 0

Title: Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking (Regulation V) Subject: Credit reporting Agency: CFPB Status: Final rule Summary: The Consumer Financial Protection Bureau (Bureau) is amending Regulation […]

CFPB director notes concern over service providers’ hold on small institutions; have ‘too much power’

April 8, 2022 0

Core services providers that small players in financial services – such as community banks and credit unions – rely upon have too much power in the system, the director of the consumer financial protection agency […]

Human trafficking survivors would not be subject to negative credit reports under proposal

April 7, 2022 0

Survivors of human trafficking would no longer be subject to negative credit reporting under a proposal unveiled Thursday by the federal consumer financial protection agency. Under the proposed rule, consumer reporting agencies (CRAs) would be […]

CFPB’s Chopra urges group to consider medical debt on credit reports – and credit reporting firms as ‘cartel’

April 6, 2022 0

It is critical that the credit reporting system is not used as a weapon to coerce Americans into paying medical and other bills they may not even owe, the leader of the federal consumer financial […]

No-cost payment plans on payday loans ‘not working as intended,’ CFPB charges in report

April 6, 2022 0

Few payday loan borrowers are benefiting from no-cost extended payment plans, but instead are paying for costly loan rollovers, according to a report published Wednesday by the federal consumer financial protection agency. The Consumer Financial […]

Consumer bureau reports increase in OMWI representation, resource allocation

April 1, 2022 0

The federal agency charged with financial consumer protection increased its representation of minorities by four percentage points over the past five years and in 2021 boosted its share of spending with minority- and women-owned (OMWI) […]

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OCC restores previous merger act rules; comments due in 30 days

May 8, 2025 0

The national bank regulator is restoring its pre-2024 business combinations rule under the Bank Merger Act (BMA), undoing the rule adopted last September and also rescinding its related policy statement. The changes by the Office of the Comptroller of the [...]
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 [...]