Links in “Agencies”
- CFPB’s Cordray: Free Credit Reports Would Benefit Overall Economy
Free credit scores would yield better educated consumers less likely to default and more likely to participate in the national credit economy, according to CFPB's director. [3/5]
- Comptroller of the Currency Addresses ICBA
OCC Comptroller Curry's virtual address to ICBA members on community banking. Key notes included: emphasis on importance of community banks, regulatory burdens, key risk factors including emerging risk factors associated with IT security, and third-party relationships. [3/5]
- CFPB Promotes “Fairness, Transparency, and Choice” for Consumers
Latest CFPB remarks on leveling the playing ground for banks, credit unions and non-banks and the key efforts of the Bureau to "recalibrate the relationship between consumers and financial service providers by ensuring it is grounded in fairness, transparency, and choice." [3/5]
- FDIC’s CRA Results: 1 Needs to Improve, 1 Substantial Non-Compliance
Results of CRA Examinations from December 2013 released showing 116 FIs reviewed with 4 Outstandings, 110 Satisfactory, 1 Needs Improvement (First Navy Bank) and 1 Substantial Non-Compliance (Evergreen Bank Group-Illinois). Important CRA Public Evaluation reading. [3/5]
- Hot off the Press: OCC Releases 2nd Quarter CRA Exam List
120 National Banks are scheduled for CRA examinations. [3/5]
- NCUA: Good Performance Noted, But Warning Issued
Many of the key indicators in 2013 were positive, but concerns that CUs may be leveraging their futures by taking on excessive interest rate risk remains. Focus remains prudent approach to long-term investments in pursuit of short-term returns that may prove volatile and costly in a forecasted rising interest rate environment. [3/4]
- FTC Identifies Top Three Consumer Complaints
FTC's annual analysis of consumer complaints identifies top three categories of complaints, which involve identity theft, debt collection, and banks and lenders. [3/4]
- Details on the 4th and 5th Banks Closed in 2014 Released
Two banks were closed on Friday (Vantage Point Bank, Horsham, Pennsylvania and Millennium Bank, National Association, Sterling, Virginia) bringing the total to 5 for the 2014 YTD. The FDIC entered into respective purchase and assumption agreements with other FIs. [3/3]
- NCUA Prohibition Orders Released for February
Details on four orders against former CU employees were released by the NCUA for personnel involvement in various charges associated with theft, embezzlement, and larceny. [3/3]
- CFPB Goes After For-Profit Education Company
CFPB drops the hammer on ITT Educational Services over alleged predatory lending practices, accusing the for-profit educator of violations on the ban against unfair, deceptive or abusive practices by strong-arming students into high-interest loans, among other allegations. [3/3]
