Links in “Agencies”

Actions include 8 new Cease and Desist Orders or Formal Agreements, 10 CMPs including a number of well-publicized penalties (JPM/Chase, Bank of Omaha, American Express Bank) and termination of 10 C&D/FA. [1/21]

President of the Federal Reserve Bank of Kansas City says incentives have not changed in a way that would achieve the desired outcome of a safer, more competitive financial system and that competitive and regulatory pressures on the smaller banks “have only worsened.” [1/20]

DuPage National Bank in Illinois, with 3 branches and $62 million in assets, was closed by the FDIC on Friday. Republic Bank of Chicago of Oak Brook, Illinois agreed to assume all of the deposits. [1/20]

CFPB orders Fidelity Mortgage Corp. and former owner to pay $81K for funneling illegal kickbacks to a bank in exchange for real estate referrals in contravention of RESPA. [1/17]

Fine matches Certegy fine last year and alleges that TeleCheck failed to follow proper dispute procedures including failure to assure the maximum possible accuracy of provided and furnished information and to promptly correct errors on consumers’ reports. [1/17]

The bureau is looking for members for its Consumer Advisory Board, Credit Union Advisory Council, and its Community Bank Advisory Council. Positions are open to anyone with the requisite financial services expertise, but CFPB states that it has a special interest in ensuring that women, minority groups and individuals with disabilities are adequately represented. [1/16]

Topics covered at the $99 workshops including Mastering the Basics, Risk Assessment, Compliance Risk and Credit Risk. Workshops are held throughout the country and require advance registration. [1/16]

Report to Congress shows near 40% growth rate in personnel with strong emphasis on diversity and expanding capacity. [1/15]

South Florida-based company faces expanded efforts and permanent ban for alleged mortgage relief scam resulting in largest FTC judgment to date against a purported mortgage assistance relief provider. [1/15]

California federal district court dismisses challenge that the CFPB was unconstitutional because it violates separation of powers, specifically only giving the President authority to remove the CFPB director for cause and the vesting of the CFPB's leadership in a single director. [1/15]