Links in “Agencies”

The OCC has released a list of new enforcement actions taken against national banks, federal savings associations, and individuals affiliated with either type of institution. Included on the list are Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders. The OCC's database can be searched for all public enforcement actions taken since August of 1989. [6/23/14]

The Federal Housing Administration published a Mortgagee Letter reminding lenders to ensure borrowers are made aware of all options when applying for reverse mortgages. The letter specifically targets those participating in the Home Equity Conversion Mortgage Program, and reminds lenders of the responsibilities within that program. [6/20/14]

The CFPB ordered GE Capital Retail Bank to provide $225 million in remediation for  deceptive credit card add-on practices, discriminatory debt relief promotions, and for violating fair lending laws. CFPB's Director Cordray states, "this kind of conduct has no place in the consumer financial marketplace." Cordray's press release details each violation and the action to be taken by the CFPB. [6/20/14]

A look at the key points that came out of the first in a series of CFPB webinars on the integrated disclosure rules for Truth in Lending and Real Estate Settlement Procedures Acts. [6/20/14]

After getting some heat from House members on the estimated $185 million renovation the CFPB's headquarters, CFPB Director Cordray shoots back with, "Come see the building. It's a dump. You want to come see it?" [6/20/14]

Spotlight shines on a culture of discrimination and retaliation, “abnormal” numbers of breaches of consumers’ personally identifiable information, and examination procedures like “fishing expeditions,” where examiners were told to expand their sample size if their initial examination did not come up with any violations. [6/20/14]

Last year, the CFPB warned banks that dealer finance charge participation may violate Fair Lending rules, even if the practices are neutral on their face. The industry pressed for clarification from the CFPB on how it determines what would constitute discrimination. In testimony before the House yesterday, CFPB Director Cordray says that the bureau will be issuing a white paper this summer regarding the use of proxy methodology it would use. [6/19/14]

NCUA issued one Cease and Desist Order in 2013, compared to five in 2012. Letters of Understanding and Agreement were up, with 224 being issued in 2013 compared to 206 in 2012. [6/19/14]

Meeting in Reno, the Consumer Advisory Board (CAB) discussed the mortgage market specifically noting action against mortgage lenders conducting illegal practices, such as SunTrust. CAB asked the public to provide insights into the effects of the six-month-old rules. [6/19/14]

The OCC will host a three-day workshop for new and experienced national community bank directors focusing on emergent risks such as information security and vendor risk management. [6/19/14]