name-only matching – Regulatory Report

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[ June 12, 2025 ] OIG report: Credit union regulator needs to ‘mature’ its cyber threat info sharing processes; and more NCUA
[ June 12, 2025 ] Households saw net worth decline as equity markets took hits, Fed reports; home values continued to fall The Fed
[ June 11, 2025 ] ‘Proper contract oversight’ thwarted by agency’s lack of compliance with own policies during failure of three banks, report asserts FDIC
[ June 10, 2025 ] UPDATED: McKernan nominated to head Treasury domestic finance office; CFPB director nomination withdrawn Other
[ June 9, 2025 ] Bowman sworn in as Fed’s top supervision official The Fed

Bureau opinion affirms ‘name-only matching’ by background screeners violates FCRA

November 4, 2021 0

Background screeners that use “name-only matching” to verify the identity of job or housing applicants are violating federal law, according to an advisory opinion announced Thursday by the Consumer Financial Protection Bureau (CFPB). “Regulators are […]

OIG report: Credit union regulator needs to ‘mature’ its cyber threat info sharing processes; and more

June 12, 2025 0

Eight recommendations for governance and process improvements and a discussion of the federal credit union regulator’s continuing need for third-party oversight authority are highlights of a new inspector general report on the agency’s cyber threat information sharing. In the report, [...]
Households saw net worth decline as equity markets took hits, Fed reports; home values continued to fall

June 12, 2025 0

Net worth of households nationwide fell by $1.6 trillion in the first quarter of the year, while households debt increased by a 1.9% annual rate in the same period, the Federal Reserve said Thursday. In releasing its figures for financial [...]
‘Proper contract oversight’ thwarted by agency’s lack of compliance with own policies during failure of three banks, report asserts

June 11, 2025 0

Lack of compliance with some of the federal bank deposit insurance agency’s acquisition policies and procedures thwarted its ability to ensure proper contract oversight management during the failure of three large regional banks in 2023, according to a report by [...]
UPDATED: McKernan nominated to head Treasury domestic finance office; CFPB director nomination withdrawn

June 10, 2025 0

Jonathan McKernan, previously nominated to be director of the Consumer Financial Protection Bureau (CFPB), is now instead nominated to succeed former Treasury Under Secretary for Domestic Finance Nellie Liang, who reportedly resigned from the post early this year. Treasury’s domestic [...]
Bowman sworn in as Fed’s top supervision official

June 9, 2025 0

Federal Reserve Board Gov. Michelle W. Bowman was sworn in Monday as the board’s vice chair for supervision, with Fed Chair Jerome H. (“Jay”) Powell administering the oath of office, the Fed announced. Bowman was nominated to the post in [...]
Comptroller rejects demand by state regulators to jettison rules pre-empting state consumer financial laws

June 9, 2025 0

A demand to jettison regulations that pre-empt state consumer financial laws was denied Monday by the national bank regulator, who told a group of state supervisors that the national rule is compliant with federal law and Supreme Court precedent, the [...]