Links in “Agencies”
- FDIC Zaps for UDAAP
California Bank & CC Provider offering reloadable Mastercard fail to deliver to consumers and reap combined $1.9 million UDAAP Fine. [5/31]
- CFPB Delays Effective Date for Rule Concerning Lump Sum Credit Insurance Premiums
The CFPB has delayed the effective date from June 1, 2013 to January 14, 2014 for a new rule so that it can further clarify issues related to lump-sum credit insurance payments for certain mortgage loans. Â [5/31]
- House Dems Put Auto Lending Enforcement Heat on CFPB
House committee presses agency for more info about its enforcement options against auto lenders that consistently give higher dealer markups to minority borrowers. [5/31]
- 3Q CRA Exam Schedule FDIC & OCC
If you're on it you probably already know, but always good to check. For OCC go to http://www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-89.html [5/30]
- Prohibition Delayed
CFPB delays amendment prohibiting creditors from financing certain credit insurance premiums in connection with certain mortgage loans until January 2014. [5/29]
- Ability to Repay Gets CFPB Smoothification
The nearly 300 pages of Addendum may bring into possible doubt CFPB's stated commitment to "working with industry and consumers for a smooth transition to the new rules." [5/30]
- FinCEN Power Guidance on CTRs via FAQs
The must know for all CTR Preparers. [5/24]
- FinCEN Updates FAQ on SARs
Nothing short of a must-read for BSA/AML Departments. [5/24]
- Final Rule Addresses Garnishments of Accounts Containing Federal Benefit Payments
Under a new final rule issued today, financial institutions must take extra steps before complying with a garnishment on an account that contains federal benefit payments, including ensuring that the account holder has access to funds in the account equal to the sum of the federal benefit payments he or she received in the past two months. [5/29]
- Treasury Goes after Liberty
First use of Section 311 Authority against virtual currency provider. [5/28]
