CFPB – Page 45 – Regulatory Report

What's up

[ October 2, 2026 ] Wisconsin bank, holding company consent to enforcement actions for ‘unsafe, unsound’ practices FDIC
[ October 1, 2026 ] Agency finally closes down troubled credit union after embezzlement charges; Alabama CU assumes members, savings, some assets NCUA
[ October 1, 2026 ] FDIC ends independent monitor brought on to ensure ‘workplace culture’ reforms after sexual harassment claims FDIC
[ October 1, 2026 ] ‘Living wills’ feedback letters published for 15 banking orgs; OCC votes against releasing one plan FDIC
[ October 1, 2026 ] Failed California bank will cost bank insurance fund $114 million FDIC

Bureau opinion affirms ‘name-only matching’ by background screeners violates FCRA

November 4, 2021 0

Background screeners that use “name-only matching” to verify the identity of job or housing applicants are violating federal law, according to an advisory opinion announced Thursday by the Consumer Financial Protection Bureau (CFPB). “Regulators are […]

Credit report disputes ‘much more likely’ for Black/Hispanic neighborhood residents, younger consumers

November 2, 2021 0

If you live in a Black or Hispanic neighborhood, or are young with a low credit score, you are “far more likely” to have a dispute appear on your credit report, according to new research […]

Report envisions stablecoins only issued through federally insured banks, credit unions; calls for ‘urgently needed’ congressional action

November 1, 2021 0

Payment stablecoins and their arrangements should be subject to a federal framework on a consistent and comprehensive basis through an act of Congress – including by requiring that stablecoins may only be issued by federally […]

CFPB updates validation info in debt collection rule guidance

October 29, 2021 0

Guidance documents to help institutions understand their compliance requirements under federal rules implementing the Fair Debt Collection Practices Act (FDCPA), in particular, the rule’s validation requirements, have been updated by the Consumer Financial Protection Bureau, […]

Two named to lead CFPB’s supervision, enforcement operations

October 29, 2021 0

Lorelei Salas and Eric Halperin have been named to lead the supervision and enforcement operations of the Consumer Financial Protection Bureau (CFPB) and will serve as “effective watchdogs over the financial marketplace, especially when it comes […]

Greater competition, stopping repeat offenders, ‘relationship banking’ make up triad of goals for new bureau director

October 27, 2021 0

Stimulating greater competition in consumer financial markets, sharpening focus on repeat offenders, and restoring “relationship banking” are the “path forward” for the federal consumer financial protection agency, its director told a House committee Wednesday. Appearing […]

CFPB adjusts TILA dollar amounts for 2022: open-end credit, cards, mortgages

October 26, 2021 0

Many of the dollar amounts that serve as thresholds for Truth-in-Lending Act (TILA) requirements, implemented by Regulation Z, on open-end credit and mortgages are set to rise as of Jan. 1, 2022, according to a […]

Consumer bureau notes updates to HMDA filing instructions for 2022 data

October 25, 2021 0

Updates to the filing instructions for Home Mortgage Disclosure Act (HMDA) data collected in 2022 – to be reported in 2023 – were released last week by the Consumer Financial Protection Bureau (CFPB). The Filing […]

CFPB reminds: Use 2020 Census info for tract information in HMDA reporting after Jan. 1

October 25, 2021 0

Financial institutions should use census tract information provided in the 2020 Census for mortgage-related data collected beginning next year, the federal consumer financial protection agency said Monday. In a “HMDA Reminder,” the Consumer Financial Protection […]

Bank faces penalty, order to increase credit access in alleged redlining activity in Memphis area

October 22, 2021 0

Alleging redlining, three federal agencies took action against a Jackson, Miss., bank – with operations in Memphis, Tenn. – and announced Friday a settlement requiring the financial institution to pay a $5 million penalty and […]

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Wisconsin bank, holding company consent to enforcement actions for ‘unsafe, unsound’ practices

October 2, 2026 0

A Wisconsin bank’s holding company is now under an enforcement order issued Friday by the Federal Reserve for “unsafe and unsound” banking practices – about two months after another federal banking agency issued a similar order for the bank owned [...]
Agency finally closes down troubled credit union after embezzlement charges; Alabama CU assumes members, savings, some assets

October 1, 2026 0

A troubled Mississippi credit union was closed and its members and savings (shares) were assumed by an Alabama Credit Union, the federal regulator announced late Wednesday. Jackson Area Federal Credit Union (FCU), of Jackson Miss., was closed and its members [...]
FDIC ends independent monitor brought on to ensure ‘workplace culture’ reforms after sexual harassment claims

October 1, 2026 0

Workplace culture reforms spawned by allegations of sexual harassment at the federal bank deposit insurance agency will no longer be overseen by an independent monitor, the agency said late Wednesday, asserting that the monitor’s work had concluded. The Federal Deposit [...]
‘Living wills’ feedback letters published for 15 banking orgs; OCC votes against releasing one plan

October 1, 2026 0

Feedback letters from 15 banking organizations with more than $250 billion in assets on their resolution plans were published Sept. 29 by the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), the agencies said. However, the Office of the [...]
Failed California bank will cost bank insurance fund $114 million

October 1, 2026 0

A failed California bank that was closed Sept. 25 is estimated to cost the federal bank deposit insurance fund about $114 million, the insurance fund said agency. The bank reopened Sept. 28 as a branch of a Utah bank as [...]
Former teller leader prohibited for allegedly misappropriating nearly a quarter million dollars from cash dispenser machines

September 25, 2026 0

Misappropriation of about $246,000 from teller cash dispenser machines has led to the prohibition of a former teller supervisor of a bank in the Maryland suburbs of Washington, D.C., the Federal Reserve said Thursday. According to the agency, Renee Nicole [...]