Links in “Agencies”

FFIEC has revised its "Management" booklet that examiners use in conducting their IT exams. [11/23/15]

The CFPB announced actions against an online lender, Integrity Advance, LLC, and its CEO for deceiving consumers about the cost of short-term loans in failing to disclose the costs consumers would pay under the default terms of the contracts as well as unfair practices involving the creation of checks used to debit consumers’ bank accounts even after the consumers revoked authorization for automatic withdrawals. The action to file will now go before an independent Administrative Law Judge within the Bureau for ruling. [11/20/15]

The Department of Justice announced three more Swiss Banks (BNP Paribas SA, KBL Ltd. and Bank CIC) reached resolutions under the department’s Swiss Bank Program to pay a combined $81 million in fines, continue to cooperate with the department, but avoid potential criminal liabilities in the United States. [11/20/15]

The CFPB announced that the ceiling on allowable charges under Fair Credit Reporting Act (FCRA) section 612(f) that covers obtaining a credit report under circumstances beyond the request for a free credit report will remain unchanged at $12.00, effective for 2016. [11/20/15]

The number of CFPB employees grew from 1,443 in 2014 to 1,529 in 2015, but according to its recent financial report, the bureau is "still below the steady-state employment levels and funding" it needs to accomplish its mission. [11/19/15]

New amendments to the Telemarketing Sales Rule prohibits telemarketers from four types of payment methods favored by con artists and scammers, such as remotely created checks. [11/19/15]

The public comment period regarding information collection, which expired on September 28, 2015, did not receive any comments addressing the proposed changes to the Foreign Branch Report of Condition. As such, agencies are now requesting approval for an extended comment window. [11/18/15]

HUD is holding its first sale offering of FY 2016, SFLS 2016-1, with intention to sell unsubsidized single family mortgage loans without FHA insurance. The sale will be held today, November 18, 2015, and details of the sale can be found in a HUD released notice which outlines the bidding process and bidder ineligibility. [11/18/15]

For the first time since 2008, the Federal Housing Administration's Mutual Mortgage Insurance Fund has exceeded its 2% statutory capital requirements by reaching 2.07%. The FHA benefited from a .5% reduction earlier this year which stimulated a 42% increase in volume, including a 27% increase in purchase-loan endorsements. No premium hike is expected. [11/17/15]

The Federal Reserve Board is amending Regulation D, Reserve Requirements of Depository Institutions,  to change the reserve requirement exemption amount and the low reserve tranche. [11/17/15]