CRA Newswire

CPFB: Extension Proposed to Prepaid Account Rule’s Effective Date

Today, we released a proposal to delay the effective date of our rule governing prepaid accounts by six months. The CFPB’s prepaid accounts rule will provide strong consumer protections and we want the rule to become effective as soon as possible. However, through our efforts to support industry implementation, we have learned that some industry participants believe they will…

ABA: Testimony on Small Business Administration Loan Program

WASHINGTON — The Small Business Administration 7(a) Loan program is a success that has encouraged economic growth and should be vigorously supported in the future, according to testimony from the American Bankers Association before the House Small Business Subcommittee on Investigations, Oversight and Regulations today. Ted Ashby, president and CEO of Surrey Bank & Trust in Mt….

OCC: Second Quarter 2017 CRA Evaluation Schedule Issued

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second quarter of 2017. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be…

ABA: 8 Way to Stop an Identity Thief

National Consumer Protection Week is March 5-11 WASHINGTON — More than 15.4 million Americans were victims of identity fraud last year, according to Javelin Strategy & Research. In recognition of National Consumer Protection Week, March 5-11, the American Bankers Association is offering eight tips to help consumers protect their information and avoid becoming a victim….

FDIC: List of Banks Examined for CRA Compliance Issued

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in December 2016. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit…

HUD: Dr. Ben Carson Sworn in as HUD Secretary

WASHINGTON – Dr. Ben S. Carson, Sr. was sworn in today as the 17th Secretary of the U.S. Department of Housing and Urban Development (HUD). Vice President Mike Pence administered the oath of office with Secretary Carson’s wife Candy and granddaughter Tesora holding the bible. Secretary Carson will now lead a cabinet agency with approximately…

CFPB: Check Out New List to See if Your Credit Card Offers you Free Access to One of Your Credit Scores

Take a first step toward learning more about your credit history by checking your credit scores and credit reports. Today we released a list  of several companies that told us they offer existing credit card customers free access to one of their credit scores. Until recently, consumers couldn’t easily access their credit scores and often had to…

OCC: CRA Evaluations for 17 National Banks and Federal Savings Associations Released

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of February 1, 2017 through February 28, 2017.  The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received…

CFPB: How to Deal with “Bad Credit” – or No Credit – When You Want to Buy a Home

Buying a home is exciting. It’s also one of the most important financial decisions you’ll make. Choosing a mortgage to pay for your new home is just as important as choosing the right home. You have the right to control the process. Check out our other blogs on homebuying topics, and join the conversation on Facebook…

ABA: Florida Teen Named Grand Prize Winner of National Video Contest

‘Lights, Camera, Save!’ inspires kids and teens to save during America Saves Week WASHINGTON—In recognition of America Saves Week, the American Bankers Association Foundation announced today the three national winners for its 2016-2017 Lights, Camera, Save! video contest. The winning videos were revealed through a live broadcast on the association’s YouTube channel. The judging panel, which consisted of…