CFPB – Page 53 – Regulatory Report

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[ June 30, 2025 ] Fed: 2025 stress test shows banks ‘well positioned’ to withstand severe recession The Fed
[ June 30, 2025 ] Risk on rise for banks in three key areas, OCC reports, as economic uncertainty increases OCC
[ June 30, 2025 ] Citing imminent insolvency, credit union regulator closes doors of OH cooperative; members, accounts transferred to another NCUA
[ June 30, 2025 ] 2 former credit union employees barred from future work in insured FIs NCUA
[ June 30, 2025 ] Texas bank became second to fail so far this year OCC

Stimulus payments should go directly to consumers, not to cover fees, agency asserts

March 17, 2021 0

In a release sporting a headline saying it is encouraging financial institutions and debt collectors to allow federal stimulus payments to reach consumers, the Consumer Financial Protection Bureau (CFPB) Wednesday said it is concerned that […]

CFPB suit says CA student loan debt relief firm collected more than $3.5 million fees in violation of Telemarketing Sales Rule

March 16, 2021 0

A student loan debt relief company, its owner, and manager charged some 3,300 consumers more than $3.5 million illegal up-front fees in violation of the Telemarketing Sales Rule (TSR) from 2015 to 2019, the consumer […]

Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity

March 15, 2021 0

Title: Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity Subject: ECOA, Reg B Agency: CFPB Status: Interpretive rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing […]

Bureau rescinds January 2020 statement limiting response to ‘abusive’ practices

March 11, 2021 0

A policy announced during the Trump administration that limited the extent of the consumer financial protection agency’s response to certain abusive acts or practices affecting consumers was rescinded Thursday, the agency announced. In a release, […]

Senate Banking tied on CFPB director nominee Chopra; next action is in Senate

March 11, 2021 0

President Joe Biden’s nomination of Rohit Chopra to be director of the Consumer Financial Protection Bureau (CFPB) drew a tie vote by the Senate Banking Committee Wednesday, 12-12, and now awaits Senate action. If confirmed, […]

Discrimination for sexual orientation, gender identity prohibited, bureau clarifies in rule

March 9, 2021 0

Discrimination for sexual orientation or gender identity is prohibited under equal credit opportunity regulations, the federal consumer financial protection agency said Tuesday. The subhead for the press release announcing the rule issued by the agency […]

Model privacy form, fintechs’ use of alternative data among areas flagged for CFPB action, report shows

March 5, 2021 0

A recent report by the federal agency charged with financial consumer protection provides a window into some of the actions currently underway – including a potential update of the model privacy form explaining information-sharing to […]

CFPB sues payments processor for allegedly supporting clients’ tech-support scams

March 4, 2021 0

A lawsuit filed in Wednesday by the Consumer Financial Protection Bureau (CFPB) alleges that Chicago-based BrightSpeed Solutions Inc. and its founder and former chief executive officer, Kevin Howard, knowingly processed payments for companies engaged in […]

Compliance date for new QM rule would be delayed 15 months to October 2022 under proposal

March 3, 2021 0

The mandatory compliance date of the general qualified mortgage (QM) final rule would be delayed 15 months (from July 1, 2021, to Oct. 1, 2022) under a proposal issued Wednesday by the federal consumer financial […]

Chopra calls for fair, effective CFPB oversight of mortgage market; warns of effects of evictions, foreclosures

March 2, 2021 0

Saying he looks forward to approaching with an open mind the mission of the federal consumer financial protection agency he was nominated to lead, Rohit Chopra told a Senate panel Tuesday that fair and effective […]

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Fed: 2025 stress test shows banks ‘well positioned’ to withstand severe recession

June 30, 2025 0

The 22 large banks subjected to the Federal Reserve Board’s 2025 stress test reportedly are “well positioned” to withstand a hypothetical, severe recession while remaining above their minimum capital requirements and continuing to lend to households and businesses, the Fed [...]
Risk on rise for banks in three key areas, OCC reports, as economic uncertainty increases

June 30, 2025 0

Economic uncertainty has increased as consumer sentiment, geopolitical risk, sustained higher interest rates, and downward movement in some macroeconomic indicators have all had their impact on threats to the banking system, the national bank regulator said Monday. In its Semiannual [...]
Citing imminent insolvency, credit union regulator closes doors of OH cooperative; members, accounts transferred to another

June 30, 2025 0

A Middletown, Ohio, credit union has been closed and its members and their accounts moved to a Cincinnati, Ohio, credit union, the federal regulator said Monday. Butler Heritage Federal Credit Union (FCU) of Middletown was liquidated by the National Credit [...]
2 former credit union employees barred from future work in insured FIs

June 30, 2025 0

A former employee of a Kansas credit union and one from a credit union in Pennsylvania are barred from participating in the affairs of any federally insured depository institution, the federal credit union regulator said Monday. The National Credit Union [...]
Texas bank became second to fail so far this year

June 30, 2025 0

A Santa Anna, Texas, bank was closed late Friday by the national bank regulator, becoming the second bank to fail so far this year. Santa Anna National Bank was closed by the Office of the Comptroller of the Currency (OCC), [...]