CFPB – Page 69 – Regulatory Report

What's up

[ July 7, 2025 ] Floods in Texas prompt closure notice for banks in affected areas, OCC announces OCC
[ July 3, 2025 ] Violations in 2024 of TIL and flood insurance once again were tops for banks; HMDA abuses move up the charts FDIC
[ July 3, 2025 ] 7 banks ‘outstanding,’ 64 ‘satisfactory’ for CRA, FDIC reports in latest disclosure FDIC
[ 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

Fine reduction offered by CFPB from $3.8 million to $20,000 for illegal fees firm charged in student loan scheme

July 8, 2020 0

Millions of dollars in fines against a Florida company for charging illegal fees to consumers to purportedly relieve them of their federal student loan payments will be reduced to just a fraction of that under […]

Bureau taps new deputy director, third person to fill job this year; new division named for public, policy engagement

July 8, 2020 0

Thomas Pahl is the new deputy director of the federal consumer financial protection bureau, the third person to fill that position so far this year. The agency also announced a new division consolidating its external […]

Bureau alleges firm took $15 million in deposits after phony advertising – including that it was a bank (when it wasn’t)

July 7, 2020 0

Several false, misleading, and inaccurate marketing representations in advertising for a Delaware-based financial services company that took $15 million in deposits but was not a bank are alleged in lawsuit filed Monday the Consumer Financial […]

Most regulatory actions taken by consumer bureau between 2012-20 ‘ratified’ in wake of Supreme Court decision

July 7, 2020 0

Most regulatory actions taken from 2012 through the middle of 2020 by the consumer financial protection agency were ratified by the agency Tuesday in response to a Supreme Court decision last week declaring the agency’s […]

Bureau drops ‘ability to repay’ provision from payday lending rule but keeps provisions blocking unapproved withdrawals

July 7, 2020 0

A new final rule on small-dollar lending issued Tuesday by the federal consumer financial protection agency revokes “ability to repay” provisions of the previous rule but makes no changes to the payment protection provisions already […]

Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z)

July 6, 2020 0

Title: Higher-Priced Mortgage Loan Escrow Exemption (Regulation Z) Subject: Regulation Z, mortgage lending Agency: CFPB Status: Notice of proposed rulemaking (NPRM) Summary: The Bureau of Consumer Financial Protection (Bureau) is proposing to amend Regulation Z, […]

Bureau’s spring agenda includes proposals under ECOA, HMDA data points, debt collection

July 2, 2020 0

Business lending data collection, Home Mortgage Disclosure Act data points, debt collection, and more are yet to come under the current rulemaking agenda of the Consumer Financial Protection Bureau (CFPB). The agenda is the bureau’s […]

Virtual ‘Office Hours’ to be held jointly by OCC, CFPB in late July

July 2, 2020 0

A virtual “Innovation Office Hours” giving participants an opportunity to discuss with regulators issues that touch on consumer protection and prudential regulation will be hosted jointly July 29-30 by the Consumer Financial Protection Bureau (CFPB) […]

Proposal would exempt many banks, credit unions from escrow requirements for higher-priced mortgage loans

July 2, 2020 0

Financial institutions with assets of $10 billion or less and that originate 1,000 or fewer mortgage loans would be exempted from a requirement to establish escrow accounts for certain higher-priced mortgage loans (HMPL), under a […]

Supervision ramping up as agencies evaluate institutions for LIBOR transition preparedness, plans

July 1, 2020 0

Federal and state regulators on Wednesday urged financial institutions to continue working to transition away from using LIBOR (the London Interbank Offered Rate) as a reference rate in any products, and they said supervision of […]

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Floods in Texas prompt closure notice for banks in affected areas, OCC announces

July 7, 2025 0

Catastrophic flooding in Texas has prompted the national bank regulator to allow banks in the affected area to close offices, the agency said Monday. The Office of the Comptroller of the Currency (OCC) said it expects that only those bank [...]
Violations in 2024 of TIL and flood insurance once again were tops for banks; HMDA abuses move up the charts

July 3, 2025 0

The two most common violations of consumer compliance supervision in 2024 were those related to truth-in-lending and mandatory flood insurance – pretty much the same results reported in 2023 — according to an annual report issued Thursday by the federal [...]
7 banks ‘outstanding,’ 64 ‘satisfactory’ for CRA, FDIC reports in latest disclosure

July 3, 2025 0

Seventy-one banks whose performance ratings under the anti-redlining Community Reinvestment Act (CRA) were announced Thursday were all rated either “outstanding” or “satisfactory,” according to the Federal Deposit Insurance Corp. (FDIC). The information, which the FDIC said became publicly available in [...]