CFPB – Page 57 – Regulatory Report

What's up

[ 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

Firms win ‘sandbox’ licenses for dual-feature credit cards, advances on unpaid wages

January 5, 2021 0

A “dual-feature credit card” and a program allowing employees access to their earned but unpaid wages prior to payday got the green light Dec. 30 for limited time under two “compliance assistance sandbox” (CAS) approval […]

$35 million in fines and redress result from student lender violating CFPB order

December 23, 2020 0

A $25 million civil money penalty, and a $10 million ding for consumer redress, was ordered against a bank and its student lending subsidiaries for violating previous orders, the federal consumer financial protection agency said […]

Bad data provided to consumer reporting agencies results in bad outcome for Santander Consumer: $4.75M penalty

December 23, 2020 0

Providing erroneous consumer loan data to consumer reporting agencies over years at a time has earned a U.S. subsidiary of a Spanish bank a consent order from the federal consumer financial protection agency, which imposes […]

Bureau announces changes in exemption thresholds for Reg C reporting, Reg Z escrow accounts – and FCRA fee

December 23, 2020 0

Banks, credit unions, and savings associations with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage Disclosure), the Consumer Financial Protection Bureau […]

Bureau tells Congress of slight updates for HMDA, other websites in coming year

December 22, 2020 0

Changes to two key websites maintained by the federal consumer financial protection agency, and which are used to help financial institutions share information or find answers to questions, are outlined under an annual report submitted […]

CFPB, remittance provider settle over findings of ‘thousands’ of remittance rule violations; penalty set at $750k

December 21, 2020 0

A large remittance provider was assessed a $750,000 civil money penalty over “thousands” of remittance rule violations and required to correct its practices under a consent order announced Monday by the Consumer Financial Protection Bureau […]

CFPB issues advisory opinion on special purpose credit programs under Reg B

December 21, 2020 0

An advisory opinion clarifying the content that a for-profit organization must include in a written plan that establishes and administers a special purpose credit program (SPCP) under Regulation B, which implements the Equal Credit Opportunity […]

Bureau names two to executive roles as deputy staff chief, assistant innovation director

December 21, 2020 0

Two new executives have been named to the federal consumer financial protection agency, one a new face and the other a “veteran” of the relatively new agency, which was formed after 2010 legislation. Jocelyn Sutton […]

‘Detailed disclosures’ required from debt collectors at start of communications, new rule requires

December 18, 2020 0

Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers respond, under a final rule issued Friday by […]

Smaller institutions tell bureau they support rules on reporting of small business lending data

December 15, 2020 0

Smaller financial institutions are generally supportive of rules requiring reporting of small business lending data in order to build a better understanding of the lending market, according to feedback released Tuesday by the federal consumer […]

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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), [...]