Links in “Agencies”

CFPB's Legal Counsel before House Committee on Financial Services promotes Bureau's efforts at increasing consumer awareness through transparency, reducing regulatory burden for market efficiency, leveling the playing field for financial services and preventing discriminatory practices. [4/9]

March edition of the Housing Scorecard shows generally positive elements including housing prices remaining stable, foreclosure starting at its lowest level since 2005, and continued use of foreclosure mitigation. Administration notes that recovery is not universal throughout the country with certain markets lagging over others. [4/8]

FDIC promotes three key companion guides to IT Handbook that provide practical ideas for banks to consider when they engage in technology outsourcing including IT provider selection tools, management tools for conducting performance risk of IT providers, and techniques for managing multiple service providers. [4/7]

CFPB's Richard Cordray's remarks at the Greenlining Institute's Economic Summit promotes Bureau's efforts for diversity and ongoing efforts to conquer the "four Ds": deceptive marketing, debt traps, dead end markets, and discrimination. [4/7]

FFIEC issued a statement on risks associated with cyber-attacks on ATMs and card authorization systems as well as the risks from distributed denial of service (DDoS) attacks on public facing websites. They emphasized the need for monitoring, controls, and response management to achieve sufficient readiness. [4/4]

Prepared remarks at the American Bar Association focused on efforts of CFPB in establishing regulations including efforts to increase public participation in the establishing of regulations, use of complaints to guide regulation creation, and continued efforts to work with financial industry to implement these regulations. [4/4]

Inspector general of the Federal Reserve says the CFPB needs to improve the efficiency of its supervision of banks, failing to meet its own timeline for completing examination reports. [4/3]

CFPB official says that while 2013 say more complaints about mortgages than debt collection, debt collection complaints have now eclipsed mortgages for the top spot at a pace of about 5,000 complaints per month. [4/3]

New 89-page guide provides timing, steps to compliance, new form guidance on Loan Estimate Form and Closing Disclosure Form, Q&As on key sections of both forms, required and prohibited practices, and Escrow disclosure. [4/2]

On the same day that the OCC Comptroller Curry gave speech on CRA, the results for March were released showing 25 Satisfactory ratings and 3 Outstanding ratings with no negative ratings during the month. Curry's speech at the 2014 National Interagency CRC promotes alternative to payday lending through FIs (see this). [4/2]