Links in “Agencies”

Not that the CFPB has been asking for them, but apparently there was an 80% increase in number of complaints received by the CFPB according to the report issued. Top three complaints categories include mortgages (37%),  debt collection (19%), and credit reporting (15%). [4/1]

OCC releases new booklet that contains interagency guidance and examination procedures on the “Garnishment of Accounts Containing Federal Benefit Payments." Guidance establishes procedures that FI must follow when they receive a garnishment order for certain federal benefits and calculate proper garnishment amount. [4/1]

February actions show continued trend of termination of consent orders (16) and termination of Prompt Corrective Action (6) outpacing new consent orders (3). CMPs (5) and removal/prohibition (5) noted. [3/31]

36-page report for FY 2013 regarding Notification and Federal Employee Antidiscrimination and Retaliation Act of 2002 (No FEAR) presents statistical analysis of complaints for 2013, but limited insights into key statistical differences in ratings of employees noted in other trade journals. Director Cordray notes that CFPB is active in working to resolve differences in employee ratings with noted efforts to identify "root causes." [3/31]

OCC kicks off its 150th anniversary with a commemorative conference promoting work of the "boots on the ground" field examiner and the efforts to oversee national banks since its founding in 1863 under President Lincoln. [3/31]

Report notes improvements in the fourth quarter of 2013 with 91.8% of mortgages current compared to 89.4% in 2012 and delinquencies at lowest level since 2008. New foreclosures down and home retention actions outpaced home forfeiture actions 3 to 1. [3/28]

Key points on operational risks and impact on FIs including needs for promoting enterprise risk management approach to operations, managing cyber threats, managing third-party risks, and regulatory risks. [3/28]

Deputy Comptroller Wides' address to the Memphis CDFI promotes strategies and synergies for FIs and CDFIs to facilitate and meet respective needs and limitations. [3/27]

Campaign for the April month-long focus on increasing financial literacy will include outreach efforts with national and local organizations to promote planned events and efforts to increase knowledge. CRA-related FIs could outreach to CUs to magnify efforts and gain Community Development Services benefits. [3/27]

Financial Action Task Force (FATF) updated its list of jurisdictions (countries) with strategic AML/counter-terrorist financing deficiencies. New list impacts FI obligations and risk-based approach to working with such jurisdictions. [3/26]