Links in “Agencies”
- OCC’s Central District Community Banks Show Improvement
Overall, for the 500+ community banks in the central district, there have been fewer delinquencies, lower loan losses, and improved capital levels. [10/1]
- CFPB Denies Tribal Payday Lenders’ Claims That They Are Not Subject to CFPB’s Authority
Petition of three tribal payday lenders to set aside civil investigative demands denied. [10/1]
- While Regulators Remain Open, Other Closures to Adversely Impact Banks During Government Shutdown
While regulators are to remain open, banks are looking at potentially significant impacts due to shutdown, as SBA, FHA and other agencies that make government-guaranteed loans come to a grinding halt. [10/1]
- HUD’s Proposed QM Definition Differs from CFPB’s Definition
To received "qualified mortgage" status under the proposed HUD rules, borrowers will not be required to have debt-to-income ratio of 43% or less, unlike CFPB rule, one of two key differences. [10/1]
- FDIC Hones in on Merchants Engaged in Higher Risk
Key need for FIs to complete risk assessments to search out those commercial customers that engage in higher-risk activities (high rates of return, high rates of unauthorized transactions, consumer complaints, or evidence of state or federal regulatory or criminal actions against the business customer). Expands policing requirements of FIs on their customer base. [10/1]
- CFPB Authorizes “Temporary C&Ds” as an Interim Rule
CFPB issues interim final rule with a request for public comment on the issuance of temporary cease-and-desist orders. This rule is to be used when agency determines an alleged violation is likely to cause serious harm to the institution prior to the completion of the case in chief. [9/30]
- FDIC Eases Pressure on Banks Dealing with Online Lenders
In response to lawmaker and industry concerns about shutting down even fully compliant online lenders, FDIC issues letter saying that institutions that correctly manage their third-party relationships "are neither prohibited nor discouraged" from processing payments for legal entities. [9/30]
- FTC Files on Payday Lending and Indian Tribe Settlement
Amicus brief filed and other charges focus on UDAAP issues and impact of settlement requirements through Indian Tribes when actions of consumers are via internet and not on tribal lands. [9/27]
- HUD Awards $38 Million to Help Fight the Housing Discrimination Fight
Funds provided through HUD's Fair Housing Initiatives Program (FHIP) to enforce fair lending through investigation and testing of alleged discriminatory practices. [9/26]
- What’s Behind the CFPB’s Endless Tweaking of Mortgage Rules?
The wide latitude granted by Dodd-Frank means CFPB is flying blind in writing its rules. For example, where did the magic number of 43% debt-to-income ratio come from? [9/26]
