CFPB: Artificial Intelligence, Automated Systems and Advanced Technology Have the Potential to Result in Unlawful Discrimination

CFPB and Federal Partners Confirm Automated Systems and Advanced Technology Not an Excuse for Lawbreaking Behavior Four federal agencies jointly pledged today to uphold America’s commitment to the core principles of fairness, equality, and justice as emerging automated systems, including those sometimes marketed as “artificial intelligence” or “AI,” have become […]

OCC: FFIEC’s 2023 “A Guide to HMDA Reporting: Getting It Right!” Released

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!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, […]

FDIC: Consumer Compliance Supervisory Highlights Including CRA Issued

The Federal Deposit Insurance Corporation (FDIC) issued the March 2023 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high–level overview of consumer compliance issues identified in 2022 through the FDIC’s supervision of […]

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 January 2023. The CRA is a 1977 law intended to encourage insured banks and […]

OCC: CRA Evaluations for 35 National Banks and Federal Savings Associations Released

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 March 1, 2023, through March 31, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks […]

CFPB: Guidance Issued to Address Abusive Conduct in Consumer Financial Markets

Policy statement details post-financial crisis prohibition on illegal abusive conduct Today, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes over a decade of precedent. The CFPB leads enforcement and supervision efforts to identify and […]

CFPB: Final Rule Issued to Create New Data Set on Small Business Lending Under Section 1071 Requirements

Rule will fulfill congressional mandate and shine light on key engine of American economy The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report information about the small […]

CFPB: Agency Heightens Scrutiny on Unlawful Collection of Payments on Discharged Student Loans

CFPB examiners found servicers engaging in unfair practices in trying to collect on loans discharged in bankruptcy Today, the Consumer Financial Protection Bureau (CFPB) released a bulletin warning servicers of their obligation to halt unlawful conduct with respect to private student loans that have been discharged by bankruptcy courts. The […]

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 2022. The CRA is a 1977 law intended to encourage insured banks and […]