Hensarling – Regulatory Report

What's up

[ October 28, 2020 ] FDIC information security ‘not effective,’ report finds; eight recommendations offered to address FDIC
[ October 28, 2020 ] Credit union regulator catches up by formally signing on to proposal clarifying, codifying role of supervisory guidance NCUA
[ October 28, 2020 ] CFPB reports continued decline in student loan complaints, notes several potential factors CFPB
[ October 28, 2020 ] Washington Federal Bank assessed $200k by CFPB over inaccurate HMDA reporting CFPB
[ October 27, 2020 ] OCC finalizes ‘true lender’ regulation in quick turn-around (just four months after proposing) OCC

House committee chairman asserts bill doesn’t repeal Volcker rule, but fosters efficiency, clarity

April 16, 2018 0

Legislation giving the Federal Reserve sole rulemaking authority for the “Volcker rule” creates efficiency – but it doesn’t eradicate the rule, the chairman of the House committee that reported out the bill said last week. […]

House overseer of financial services will step down at end of Congress

October 31, 2017 0

The chairman of the House Financial Services Committee, and sponsor of legislation that envisioned sweeping changes to the federal financial institution regulatory scheme – the Financial CHOICE Act (H.R. 10) – will not be returning […]

FDIC information security ‘not effective,’ report finds; eight recommendations offered to address

October 28, 2020 0

Information security systems at the federal insurer of bank deposits are operating at a “maturity level” that is not considered to be effective, and the agency’s inspector general has made eight recommendations to address that efficacy, according to a report [...]
Credit union regulator catches up by formally signing on to proposal clarifying, codifying role of supervisory guidance

October 28, 2020 0

A proposed rule aimed at clarifying and codifying the role of supervisory guidance from federal financial institution regulators was adopted by the credit union regulator on Wednesday, as that agency joined federal banking agencies in issuing the proposal for comment. [...]
CFPB reports continued decline in student loan complaints, notes several potential factors

October 28, 2020 0

The decline in complaints it received related to private or federal student loans from Sept. 1, 2019, to Aug. 31, 2020, continued a trend from 2017 but is not likely attributable to just one factor, the Consumer Financial Protection Bureau’s [...]
Washington Federal Bank assessed $200k by CFPB over inaccurate HMDA reporting

October 28, 2020 0

Washington Federal Bank, N.A., already under a 2013 consent order addressing violations of Home Mortgage Disclosure Act (HMDA) reporting requirements, must pay a $200,000 civil money penalty and beef up its compliance management related to later violations under a consent [...]