illegal fees – Regulatory Report

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[ November 26, 2025 ] Latest Beige Book reports mixed economic activity, but little changed from last month The Fed
[ November 25, 2025 ] Banking agencies revise leverage capital requirements for largest banks FDIC
[ November 25, 2025 ] Lower community bank leverage ratio proposed; agencies cite more flexibility, ‘optionality’ FDIC
[ November 25, 2025 ] FDIC bumps independent audit reporting threshold to $1 billion; more FDIC
[ November 25, 2025 ] FDIC releases public sections of informational filings for resolution plans by six large banks 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 […]

Latest Beige Book reports mixed economic activity, but little changed from last month

November 26, 2025 0

Reports of loan demand across the Federal Reserve’s 12 districts were “mixed,” although some reported an ongoing recovery in the office real estate market, according to the latest Beige Book released Wednesday. The Fed’s semi-monthly summary of commentary on current [...]
Banking agencies revise leverage capital requirements for largest banks

November 25, 2025 0

A final rule easing leverage capital requirements for the largest and most systemically important banking organizations was announced Tuesday by federal regulators and is set to take effect April 1, 2026. Institutions are free to adopt the changes as of [...]
Lower community bank leverage ratio proposed; agencies cite more flexibility, ‘optionality’

November 25, 2025 0

Lowering from 9% to 8% the “community bank” leverage ratio (CBLR) in capital requirements was proposed by all three federal bank regulatory agencies Tuesday, which also proposed a longer period for the banks to achieve compliance with the new level. [...]
FDIC bumps independent audit reporting threshold to $1 billion; more

November 25, 2025 0

As of Jan. 1, banks with less than $1 billion in consolidated assets will no longer be required to provide federal regulators with annual reports of independent audit findings, according to a final rule announced Tuesday. That threshold is up [...]
FDIC releases public sections of informational filings for resolution plans by six large banks

November 25, 2025 0

“Informational filings”– which provide details for their rapid and orderly resolution in the event of bankruptcy or other insolvencies – for six large banking companies were published Tuesday by the federal bank deposit insurance agency. The filings were from Zions [...]
CFPB consumer advisory panel to hold first 2025 meeting Dec. 10, small dollar products on tap

November 24, 2025 0

The federal consumer financial protection agency’s Consumer Advisory Board (CAB) is slated to hold its first open meeting of the year Dec. 10, according to a notice in Monday’s Federal Register. That meeting will include, among other things, discussion of [...]
Dana Wade named FDIC deputy to the chairman and chief of staff

November 24, 2025 0

The board of the federal bank deposit insurance agency has approved Dana T. Wade to be deputy to the chairman and chief of staff, the agency said in a release Monday. Wade will serve as advisor to Federal Deposit Insurance [...]
Citing ‘low level of money laundering,’ agency eases up on requirements for community banks

November 24, 2025 0

So-called national “community banks” received some easing of anti-money laundering (AML) requirements under a bulletin issued Monday by their federal regulator. Separately, the Office of the Comptroller of the Currency (OCC) also issued a request for information (RFI) which it [...]
Former Wells banker wins reprieve from order resulting from sales practice misconduct case

November 21, 2025 0

A former Wells Fargo Bank executive has won a reprieve from a national bank regulator order earlier this year that would barred her from further financial institution service and assessed a multi-million dollar fine, the agency said Thursday. Claudia Russ [...]