CFPB – Page 58 – Regulatory Report

What's up

[ July 1, 2025 ] NCUA shutters small IL credit union after 12-day conservatorship; third to close in two weeks NCUA
[ July 1, 2025 ] Seven banks – including Bank of China branches – earn top ratings for CRA compliance OCC
[ 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

Bureau lists five new regulatory activities in coming months – and two longer-term projects

December 14, 2020 0

Five new regulatory activities will be taken on by the federal consumer financial protection bureau through the rest of this year, and into the spring of 2021, the agency said Friday. In addition, the Consumer […]

Firm that operates bad-check pretrial-diversion programs sued by CFPB

December 10, 2020 0

A firm based in Kansas City, Mo., that operates bad-check pretrial diversion programs on behalf of more than 90 district attorneys’ offices throughout the country is being sued by the consumer financial protection agency over […]

Bureau makes final two new QM rules: one on ‘general QMs,’ the other on ‘seasoned QMs’

December 10, 2020 0

Two final rules related to “qualified mortgages” (QMs) – one instituting a limit on lending based on a loan’s pricing, and the second creating a “seasoned QM” – were released Thursday by the federal consumer […]

Debt collection firm hit with $204k money penalty over abusive, deceptive practices

December 9, 2020 0

A $204,000 civil money penalty was assessed Tuesday against RAB Performance Recoveries, LLC, in a consent order with the Consumer Financial Protection Bureau (CFPB), which said the firm threatened to sue and sued consumers for […]

CFPB seeks $74.5 million in combined redress, civil money penalty from Nationstar Mortgage

December 7, 2020 0

Nationstar Mortgage, LLC, would be required to pay about $73 million in redress and a civil money penalty of $1.5 million under a complaint and proposed stipulated order filed Monday by the Consumer Financial Protection […]

Bureau sues CA firm for violating Military Lending Act’s 36% rate cap, more

December 4, 2020 0

An injunction, damages, redress to consumers, disgorgement of ill-gotten gains, and the imposition of civil money penalties against LendUp Loans LLC are sought in a suit filed Friday by the Consumer Financial Protection Bureau (CFPB) […]

Advisory Opinions Policy

December 3, 2020 0

Title: Advisory Opinions Policy Subject: Advisory opinions Agency: CFPB Status: Procedural rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing its final Advisory Opinions Policy (Advisory Opinions Policy), which sets forth procedures to […]

Debt settlement, relief firm sued for abusive acts, practices

December 2, 2020 0

A Beverly, Mass., debt-settlement and relief firm has violated telemarketing regulations by engaging in abusive and deceptive acts, the federal consumer financial protection agency charged in a lawsuit filed Monday. According to the Consumer Financial […]

Bureau issues new ‘no-action letter’ for online lending platform

December 2, 2020 0

An automated model for underwriting and pricing applicants for unsecured, closed-end loans has earned a “no-action letter” (NAL) for a California-based firm that provides an online lending platform, the Consumer Financial Protection Bureau (CFPB) said […]

Bureau names five – including new COO – to key management positions

December 2, 2020 0

Five new members were added to the federal consumer financial protection agency’s management team Monday, including a new chief operating officer, the agency announced. In a release, the Consumer Financial Protection Bureau (CFPB) said it […]

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NCUA shutters small IL credit union after 12-day conservatorship; third to close in two weeks

July 1, 2025 0

A tiny credit union that was placed into conservatorship June 18 was closed by its federal regulator July 1, the agency said in a release that alleged violations of federal law and rules. It is the third credit union the [...]
Seven banks – including Bank of China branches – earn top ratings for CRA compliance

July 1, 2025 0

Seven banks – including two branches of the Bank of China – received the highest ratings for compliance with rules implementing anti-redlining laws, according to scores released Tuesday by the national bank regulator. The ratings for compliance with Community Reinvestment [...]
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), [...]