CFPB – Page 6 – Regulatory Report

What's up

[ April 22, 2024 ] Comments due June 18 on FDIC bank merger policy statement FDIC
[ April 22, 2024 ] Nagging inflation pressures, leading to tight money, cited as biggest risk ahead for financial stability The Fed
[ April 18, 2024 ] Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank OCC
[ April 18, 2024 ] Credit union regulator seeks comments on how to improve, update records retention rules NCUA
[ April 18, 2024 ] Ombudsman’s report notes banker frustration over lack of communication with FDIC FDIC

DOJ, CFPB remind FIs that ECOA protects credit applicants regardless of immigration status

October 12, 2023 0

The Equal Credit Opportunity Act’s (ECOA) protections against discrimination apply regardless of a credit applicant’s immigration status, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) underscored in a joint statement Wednesday. […]

Agencies seek $23 million in penalties from rental screening arm of big three credit reporting company TransUnion

October 12, 2023 0

Penalties of $23 million against a subsidiary of one of the big three credit reporting agencies were announced by two federal agencies Thursday for actions that include failing to ensure accurate rental background checks and […]

Home affordability declined in 2022 driven by higher rates, fees; more applicants denied for insufficient income

September 27, 2023 0

Overall affordability of homes declined significantly in 2022, with borrowers spending more of their income on mortgage payments and lenders more often denying applications for insufficient income, the federal consumer financial protection agency said Wednesday. […]

FAQs address CFPB small business lending rule in wake of Texas court decision

September 14, 2023 0

The impact of a federal court order freezing implementation of the small business lending rule issued by the federal consumer financial protection agency spawned a new set of “frequently asked questions” (FAQs) by the agency […]

Chopra assails legal challenges to CFPB rules, asserting they will destabilize housing, consumer markets

September 12, 2023 0

Legal challenges to the authority of the federal consumer financial protection agency could challenge the stability of the nation’s housing market, the agency’s head said Monday, since its rules are intertwined so closely to the […]

Leasing firm ordered to let customers keep merchandise, forgo $33 million in payments, pay $2 million penalty

September 11, 2023 0

Merchandise obtained by customers from a leasing firm will be kept by those who leased it, and the firm will pay a $2 million penalty, after a federal agency found the firm tricked the customers […]

‘Big tech’ restrictions on tap-to-pay have ‘significant impact’ on payments in U.S., report contends

September 7, 2023 0

Regulations imposed by mobile operating systems owned by “big tech” companies can have a significant impact on innovation, consumer choice, and the growth of open and decentralized banking and payments in the U.S., according to […]

HMDA filing instructions guide updated for 2024

September 7, 2023 0

The filing instructions guide (FIG) to help financial institutions file Home Mortgage Disclosure Act (HMDA) data collected in 2024 and reported in 2025 is available online now, the federal consumer financial protection agency said Thursday. […]

Special purpose credit programs are topic of Sept. 12 roundtable discussion among housing, community groups, agencies say

August 25, 2023 0

A Sept. 12 roundtable discussion on special purpose credit programs (SPCPs) to help meet the credit needs of eligible individuals will include remarks from, among others, the leaders from the national bank regulatory agency, two […]

Fee-harvesting,’ ‘loan-churn scheming’ non-bank firm is sued for unfair, abusive practices

August 22, 2023 0

Describing the actions of an installment lender as “fee harvesting” and a “loan-churning scheme,” the federal consumer financial protection action has filed a lawsuit against the firm for unfair and abusive practices, it said Tuesday. […]

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Comments due June 18 on FDIC bank merger policy statement

April 22, 2024 0

Public comments on the federal bank deposit insuring agency’s proposed statement of policy on bank merger transactions are due June 18, according to a notice in Friday’s Federal Register. The proposed statement, issued March 21 by the Federal Deposit Insurance [...]
Nagging inflation pressures, leading to tight money, cited as biggest risk ahead for financial stability

April 22, 2024 0

Persistent inflationary pressures leading to a more restrictive than expected monetary policy stance is the most frequently cited risk to financial stability by researchers, academics and market participants, according to a report issued late Friday by the Federal Reserve. Other [...]