Links in “Agencies”
- CFPB Nixes its Headline-Grabbing Performance Review System
Agency responds to American Banker article that found white employees had a greater likelihood of receiving highest ratings in performance reviews over minorities by pledging to drop the current performance review system. [3/11]
- OCC Issues Basel III Interim Final Rule
The OCC issued a final rule on Basel III Capital Framework which is effective March 31, 2014 and adds a new common equity tier 1 requirement, revises the definitions of tier 1 and tier 2 capital, integrates federal savings associations into Prompt Corrective Action and clarifies certain elements including requirements for subordinated debt. [3/10]
- Regulators Promote New CRA Conference
Federal bank regulatory agencies announce the upcoming biennial 2014 National Interagency Community Reinvestment Conference in Chicago on March 31 to April 2 focusing on CRA issues and promoting awareness of innovations in community development policies and practices. [3/10]
- A Look Inside CFPB’s Playbook
CFPB's updated strategic plan shows it intends to focus more than 45% of its staff growth over the next two years in supervision, enforcement and fair lending. [3/7]
- CFPB: $1 Million in Relief for SCRA Covered Persons Announced
CFPB announces efforts on behalf of servicemembers, veterans, and their families regarding complaints received and efforts to provide relief. From the 14,000 complaints from servicemembers for period of July 21, 2011 through February 1, 2014, $1 million in relief was provided. [3/7]
- Still Not too Late, CFPB’s Invitation to Key Board Positions Extended
The CFPB publishes the extension for potential interested parties to join the Consumer Advisory Board, Community Bank Advisory Council and/or the Credit Union Advisory Council until March 14, 2014. [3/7]
- Official Administration Proclamation for National Consumer Week
President Obama's official statement on National Consumer Week, which ends tomorrow is presented within the Federal Register. It promotes efforts of the Administration and calls upon government officials, industry leaders, and advocates to share key consumer protection info and promote consumer rights. [3/7]
- FTC Promotes Efforts on FDCPA Compliance
FTC notes increased actions regarding enforcement of Fair Debt Collection Practices Act citing various cases brought during 2013. While actions were largely directed at third-party debt collectors, best-practice lessons remain: Ensure authorized contacting of third parties about consumersâ debts, disclose name of involved collectors and facts associated with debt collection efforts, and notify consumer of rights to dispute and obtain verification of their debts. [3/6]
- CFPB Headquarters Renovation Catches the Attention of OIG
Although the CFPB headquarters renovation project had been estimated to be $95 million, costs have reached $145 million. The Office of Inspector General plans to investigate. [3/6]
- NCUA 4th Quarter Results Reveal a Solid 8% Growth
NCUA performance levels for federally insured credit unions through year-end 2013 show a solid 8% growth led by Idaho, Iowa and Virginia FCUs and return on average assets led by Utah and Washington. Delinquency rate for FCUs was 1.0% nationwide, down from 1.2% in 2012. [3/6]
