A consent order entered into in April 2011 between the Federal Reserve Board and The Leaders Group Inc. – a bank holding company that owns and controls The Leaders Bank (Oak Brook, Ill.) – was […]
The role of artificial intelligence (AI) and, within it, machine learning (ML), in the credit underwriting process is under review at the Consumer Financial Protection Bureau (CFPB), which highlighted in a blog post Wednesday the […]
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 […]
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 […]
A June legal opinion from the federal credit union regulatory agency notes that the “reasonable proximity” requirement under the Federal Credit Union Act doesn’t set a maximum distance between the location of a group that […]
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 […]
Any federal credit union that had a rural district membership eligibility application postponed – for, in some cases, nearly two years — as a result of a now-resolved lawsuit will see its application processed immediately, […]
The economic and financial “path of recovery” from the impact of the coronavirus crisis remains highly uncertain, the Federal Reserve’s top supervisor said Tuesday – but he also noted that banks continue to be in […]
Financial institutions were urged to be alert to the financial “red flags” that may indicate COVID-19-related imposter scams or money mule schemes in a Treasury financial crimes enforcement unit advisory Tuesday that also gives instructions […]
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 […]
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