illegal fees – Regulatory Report

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[ May 7, 2026 ] New AI products on market present possible risks, benefits agency advises in latest ‘Risk Perspective’ OCC
[ May 7, 2026 ] Regulator takes control of Jackson, Miss., credit union citing ‘unsafe, unsound practices’ NCUA
[ May 6, 2026 ] In latest ‘deregulation,’ credit union regulator proposes to match banks on prohibition thresholds for management interlocks NCUA
[ May 5, 2026 ] Loan demand remains flat in most cases, as lending standards stay tight, survey finds The Fed
[ May 5, 2026 ] Latest CRA rating list shows banks doing well in complying with anti-redlining rules FDIC

CFPB, 7 state AGs sue firm that allegedly collected more than $100 million from consumers in illegal, up-front fees for debt relief services

January 19, 2024 0

A firm called Strategic Financial Solutions (SFS), its shell companies and two key architects of a scheme that amassed the firms allegedly more than $100 million in illegal advance fees from consumers are being sued […]

CFPB seeks $5.4 million in consumer redress, $1 fine from MA debt settlement firm

May 17, 2021 0

A debt collection firm in Massachusetts would be required to pay $5.4 million in consumer redress and a $1 civil money penalty under a settlement proposed Monday by the Consumer Financial Protection Bureau (CFPB). The […]

New AI products on market present possible risks, benefits agency advises in latest ‘Risk Perspective’

May 7, 2026 0

A sound understanding of artificial intelligence (AI) possible risks — and benefits — that can assist with cybersecurity functions are among the top threats and opportunities facing banks, according to a report issued by the national bank regulator Thursday. In [...]
Regulator takes control of Jackson, Miss., credit union citing ‘unsafe, unsound practices’

May 7, 2026 0

“Unsafe and unsound practices” at a $162 million-in-assets Jackson, Miss., credit union led to its conservatorship by the federal regulator, the agency said late Wednesday. Jackson Area Federal Credit Union (FCU) counts 15,500-plus members, the National Credit Union Administration (NCUA) [...]
In latest ‘deregulation,’ credit union regulator proposes to match banks on prohibition thresholds for management interlocks

May 6, 2026 0

The major assets prohibition threshold for credit union management interlocks would be raised to $10 billion – a four-fold increase from the current threshold of $2.5 billion, and matching that of bank regulations – under the latest “deregulation” proposal issued [...]
Loan demand remains flat in most cases, as lending standards stay tight, survey finds

May 5, 2026 0

There was no uptick in demand for most loans, and lending standards remained tight, in the first quarter according to survey results released Monday by the Federal Reserve. The agency said results of its April 2026 Senior Loan Officer Opinion [...]
Latest CRA rating list shows banks doing well in complying with anti-redlining rules

May 5, 2026 0

Eight banks, out of 46 total, earned “outstanding” ratings from the federal bank deposit insurance agency for their compliance with rules implementing anti-redlining laws, the agency said Tuesday. The ratings, the Federal Deposit Insurance Corp. (FDIC) said, were for banks [...]