CFPB – Page 4 – Regulatory Report

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[ May 13, 2022 ] Use of AI under consideration by national bank regulator – recognizing risks that banks face using the technology OCC
[ May 12, 2022 ] Two more confirmed to Fed Board – chair and member – both on bipartisan, overwhelming votes The Fed
[ May 12, 2022 ] Worker tries to bump bank salary by faking offer from competing institution The Fed
[ May 12, 2022 ] Comptroller voices concern over ‘hype, risk’ consumers facing with crypto investments; counsels education, awareness OCC
[ May 12, 2022 ] Agencies finally release revised flood insurance Q&As, including 144 new, updated ones FDIC

Consumer bureau’s advisory committees set to meet over 3 days in April

March 22, 2022 0

The four panels that advise the Consumer Financial Protection Bureau (CFPB) on its research activities, trends in consumer finance and how the bureau carries out its functions under federal statutes affecting banks and credit unions […]

Bureau raises stakes under ban on discriminatory practices, targeting actions in ads, pricing, more

March 16, 2022 0

Discriminatory conduct that violates the federal prohibition against unfair practices – as well as decision-making in advertising, pricing, and other areas to which federal consumer protection laws may not directly apply – will be closely […]

Bureau unveils initiative to address issues of rural America, with focus on banking deserts, discriminatory lending, manufactured housing

March 10, 2022 0

Issues facing rural America are the focus of an initiative launched Thursday by the federal consumer financial protection agency, with particular initial emphasis on rural banking deserts, discriminatory and predatory agricultural credit, and manufactured housing, […]

Regulators vow to reduce risks, promote ‘fair, efficient’ financial system in response to digital assets order

March 9, 2022 0

Reducing risks posed by digital assets while promoting “a fairer, more inclusive, and more efficient financial system” were vowed by leaders of two key financial regulatory agencies in response to the “digital assets” executive order […]

Bulletin 2022-04: Mitigating Harm From Repossession of Automobiles

March 4, 2022 0

Title: Bulletin 2022-04: Mitigating Harm From Repossession of Automobiles Subject: Auto repos Agency: CFPB Status: Compliance Bulletin 2022-04 Summary: The Consumer Financial Protection Bureau (Bureau or CFPB) is issuing this Compliance Bulletin regarding repossession of […]

CFPB’s Chopra outlines steps for combatting ‘coercive’ medical debt credit reporting

March 1, 2022 0

Three broad steps meant to combat “coercive” credit reporting to obtain payments on medical debt will be taken by the federal consumer financial protection agency, its director said Tuesday. Consumer Financial Protection Bureau (CFPB) Director […]

Bureau issues second warning in week that it is closely watching auto lending, repossessions

February 28, 2022 0

Improper, illicit auto repossessions are the target of a compliance bulletin issued Monday by the federal consumer financial protection agency, which outlines conduct the agency has observed in exams; the agency also said it is […]

In quest for ‘fair, transparent, competitive’ auto lending, bureau vows to monitor loans, collections, subprime competition

February 24, 2022 0

A fair, transparent, and competitive auto lending market – particularly as car prices, for especially used models, rise – will be a focus of the federal consumer financial protection agency, it said in a blog […]

‘Options’ aim to protect homebuyers from use of ‘algorithmic bias’ in valuation process

February 23, 2022 0

Protecting homebuyers from bias resulting through the use of algorithms applied in property valuations is the aim of “options” released Wednesday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said […]

Factsheet covers interest rate used for calculating prepaid interest under QM

February 23, 2022 0

A factsheet on the interest rate used for calculating prepaid interest under certain mortgage lending rules was issued Wednesday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the fact […]

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Use of AI under consideration by national bank regulator – recognizing risks that banks face using the technology

May 13, 2022 0

Use of artificial intelligence (AI) tools is being considered by the regulator of national banks to enhance its monitoring of risks in the banking system, a top official at the agency told a congressional task force Friday. In a hearing [...]
Two more confirmed to Fed Board – chair and member – both on bipartisan, overwhelming votes

May 12, 2022 0

The Federal Reserve Board now has a permanent chair, and is a step closer to having its full contingent of seven members after action in successive days by the U.S. Senate. Jerome H. (“Jay”) Powell was confirmed by the Senate [...]
Worker tries to bump bank salary by faking offer from competing institution

May 12, 2022 0

A former worker of Deutsche Bank AG New York Branch agreed to a cease and desist order from the Federal Reserve that the banker faked a proposed salary offer from a competing firm seeking to hire him in order to [...]
Comptroller voices concern over ‘hype, risk’ consumers facing with crypto investments; counsels education, awareness

May 12, 2022 0

The hype and the risk consumers face with cryptocurrency investments and other digital assets is of concern to the national banking regulator, he told a group Thursday, describing the ventures as a “get rich quick” scheme. Wherever you look, someone [...]
Agencies finally release revised flood insurance Q&As, including 144 new, updated ones

May 12, 2022 0

Federal flood insurance law and federal regulators’ implementing rules are the topic of revised questions and answers (Q&As) released late Wednesday by federal financial institution regulators and the Farm Credit Administration (FCA). According to the agencies (which included the three [...]