Links in “Agencies”
- Why Senators May Find CFPB Response to Auto Lending Guidance Less-Than-Satisfactory
Senators' request for details on the methodology used by the CFPB to make its determination that "disparate impact" discrimination is present in the indirect auto financing market is met with a variety of evasive answers, such as not giving a threshold number at which a difference in loan rate would be considered discriminatory, saying such matters are handled on a "case-by-case" basis. [11/5]
- FDIC’s Near Perfect CRA Rating Bell Curve
Ratings show 5 Needs Improvement, 90 Satisfactory and 6 Outstanding outcomes. How is that for a bell curve? Still, for those on the negative part of the bell, it makes sense to review their causal factor for NI. [11/4]
- Mayfair’s 77 Years of Operations Come to an End
NCUA places Mayfair, a federal credit union chartered in 1936 that served a low-income community in Philadelphia, into conservatorship. Represents the fourth such placement for 2013. [11/4]
- Group Argues Against Effectiveness of Fannie Mae’s Recent Drop LTV Requirements
Fannie Mae's Nov. 1 change in policy to make 5% the minimum down payment of mortgages it will purchase draws criticism for doing little to protect GSEs or taxpayers. [11/4]
- Presentation on Native American Lending Opportunities
On November 22, a free webinar presents challenges and opportunities in serving Native American communities with emphasis on opportunities for Community Reinvestment Act (CRA) consideration with respect to outreach into lending in Native American communities. [11/4]
- First Impressions: OCC Pushing Responsibility for Third-Party Vendors Up to Banks’ Highest Levels
Attorney takes a first look at OCC's new guidance on third-party relationships and finds greater emphasis on board's and senior management's responsibilities. [11/4]
- New FinCEN FactSheet on 314(b)
FactSheet gives 5 Ws of 314(b), which can be a critical element of an FI's BSA/AML program when effectively utilized. Progression in BSA/AML world towards more analysis of complex activities often necessitates participation in 314(b). [11/1]
- Complaint Pass-Through Channels a Go
CFPB teams up with the city of St. Louis to allow calls to local bureau pass through to CFPB's system. Includes wide range of topics with emphasis on complaints. [11/1]
- Watt Nomination Blocked: Good News or Bad News?
Senate Republicans blocked a vote on the nomination of Rep. Mel Watt to head up the Federal Housing Finance Agency. Wattâs proponents say he would support stronger consumer protections and greater assistance for at-risk homeowners. [11/1]
- OCC Doubles Down on Third-Party Relationships
OCC setting tone for best practices associated with third-party relationships. Lays out 8 points that mandate key needs such as a plan, due diligence, contracts, ongoing monitoring, transitioning, oversight, reporting and independent reviews. [10/31]
