CFPB: New Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable
Servicers Should Gear Up for Expected Surge in Homeowners Needing Assistance The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related federal emergency mortgage protections…
HUD: Commemorating National Fair Housing Month 2021
The U.S. Department of Housing and Urban Development (HUD) today kicked off Fair Housing Month 2021. This year’s Fair Housing Month theme, Fair Housing: More Than Just Words, reflects the Biden-Harris Administration’s commitment to advancing equity in housing and the importance of increasing public awareness of everyone’s right to fair housing. “Fair Housing Month is a…
OCC: April is National Financial Capability Month
The Office of the Comptroller of the Currency (OCC) encourages national banks and federal savings associations (collectively, banks) to support financial literacy education year-round but especially during National Financial Capability Month, which runs through April 30. Banks promote financial literacy by supporting programs that expand financial literacy, economic empowerment, and access to capital and credit…
CFPB: Series of Policy Statements Rescinded to Ensure Industry Complies with Consumer Protection Laws
The Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards. The seven rescissions, effective April 1, provide guidance to financial institutions on complying with their legal and regulatory…
CDFI Fund: Public Comments Sought on Civil Rights Act Compliance Worksheet
The U.S. Department of the Treasury, as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act (PRA) of 1995, 44 U.S.C. 3506(c)(2)(A). Currently, the Community Development…
CDFI Fund: Pre-Application Webinar for FY 2021 Small Dollar Loan Program Round Scheduled for April 13th
The Community Development Financial Institutions Fund (CDFI Fund) staff will hold an informational pre-application webinar for the Small Dollar Loan Program on Tuesday, April 13, 2021. Topics covered will include setting up your critical SAM.gov and Grants.gov accounts, adjusting your organizational profile in the Awards Management Information System (AMIS), and other ways your organization can prepare…
OCC: FFIEC’s 2021 “A Guide to HMDA Reporting: Getting It Right!” Issued
Summary The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!”, which is designed to help banks comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003). The…
CFPB: FTC and CFPB Issue Joint Statement on Preventing Illegal Evictions
Consumer Financial Protection Bureau Acting Director Dave Uejio and Federal Trade Commission Acting Chairwoman Rebecca Slaughter issued a joint statement regarding their agencies’ work to help stop illegal evictions and protect American consumers facing economic hardship due to COVID-19. CFPB Acting Director Dave Uejio and FTC Acting Chairwoman Rebecca Slaughter:“Staff at both agencies will be…
Agencies Seek Wide Range of Views on Financial Institutions’ Use of Artificial Intelligence
Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations. The Federal Reserve Board, the Consumer Financial Protection Bureau (CFPB), the…
ABA: New York Teen Named Grand Prize Winner of National “Lights, Camera, Save!” Video Contest
Leonardo Cross, an 18-year-old student at High School of Art and Design in New York is the national winner of the American Bankers Association Foundation’s Lights, Camera, Save! video contest. Lights, Camera, Save!, which launched in 2010, is a unique national competition that encourages teens ages 13 to 18 to use video to communicate the…