EFT – Regulatory Report

What's up

[ August 31, 2026 ] Order: Former IN credit union employee caused $350,000 loss NCUA
[ August 31, 2026 ] Comptroller sets schedules for 4th, 1st Quarter CRA exams; takes break in December OCC
[ August 28, 2026 ] ‘Unsafe, unsound practice’ redefined by bank agencies in interest of prioritizing material financial risks over policies FDIC
[ August 28, 2026 ] Former bank CFO who diverted loan proceeds among those targeted in FDIC prohibitions FDIC
[ August 28, 2026 ] FDIC revises consumer exam manual in response to new definition of ‘unsafe, unsound practices’ FDIC

CFPB rescinds interpretive rule on states’ enforcement of CFPA; withdraws 3 proposed rules focused on EFT, data broker practices, contracts of adhesion

May 15, 2025 0

An interpretive rule that declared essentially no limits on states’ ability to enforce provision of the Consumer Financial Protection Act (CFPA) was rescinded as of Thursday, the Consumer Financial Protection Bureau (CFPB) said in a […]

Consumer bureau slaps USAA bank with $3.5 million penalty, orders restitution of $12 million

January 3, 2019 0

USAA Federal Savings Bank – one of the largest financial institutions serving active and retired members of the military, and their families – will pay $12 million in restitution and a $3.5 million civil money penalty (CMP) […]

Order: Former IN credit union employee caused $350,000 loss

August 31, 2026 0

A former employee’s misconduct caused Centra Credit Union, Columbus, Ind., more than $350,000 in losses, according to an August consent prohibition announced Monday that bars her permanently from any future work in federally insured financial institutions. The National Credit Union [...]
Comptroller sets schedules for 4th, 1st Quarter CRA exams; takes break in December

August 31, 2026 0

Seventy-nine banks – many of them in Texas – will face exams for anti-redlining rules compliance in the fourth quarter of this year, and the first quarter of next year, the national bank regulator said Monday. In releasing its fourth [...]
Former bank CFO who diverted loan proceeds among those targeted in FDIC prohibitions

August 28, 2026 0

A former chief financial officer of Bank of the Valley, Bellwood, Neb., is prohibited from any future work in federally insured financial institutions under a consent order issued in July and announced Friday by the federal bank deposit insurer. The [...]
FDIC revises consumer exam manual in response to new definition of ‘unsafe, unsound practices’

August 28, 2026 0

Five chapters were revised – and a template removed –from the federal bank deposit insurance agency’s consumer compliance exam manual, the agency said Friday, in a response to a new rule on unsafe, unsound practices. On Thursday, the Federal Deposit [...]