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 end abusive conduct against consumers….
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 business credit applications they receive,…
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 bulletin details recent findings by…
FDIC: CRA Examination Schedules for Second and Third Quarters 2023 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2023 and third quarter 2023. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. …
OCC: Second and Third Quarter 2023 CRA Evaluation Schedule Issued
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 and third quarters of 2023. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
ABA: Association Offers Congressional Testimony on Strength of Banking Industry
FirstBank CEO Jim Reuter appears on behalf of ABA members before House Financial Services Subcommittee on Financial Institutions and Monetary Policy The American Bankers Association today provided testimony to the House Financial Services Subcommittee on Financial Institutions and Monetary Policy on the banking industry’s public policy priorities, new initiatives to foster innovation and competition in financial services,…