Links in “Agencies”
- CFPB Requests Comments Regarding HMDA Information Collection
HMDA requires collection and reporting of information about mortgage loan originations and purchases. Information collection helps CFPB determine whether institutions are complying with HMDA's various provisions. CFPB has invited comments regarding the utility and burden of information collection. [11/10/15]
- CFPB Job Posting Signals Greater Attention to Business Lending
The CFPB is advertising a position with the title "Assistant Director for Small Business Lending Markets," a signal that the bureau may be stepping up its efforts to implement the small business lending data requirements of Dodd-Frank. [11/10/15]
- Regulatory Agencies Propose Standards for Addressing Diversity Policies
The OCC, FDIC, CFPB and SEC have submitted a request for approval of a proposal that would call for financial institutions to make public their efforts to ensure the institution's diversity and inclusion in its workforce and procurement activities. [11/9/15]
- Cordray Uses Veterans Day to Call Attention to CFPB’s Servicemember Protection Efforts
CFPB's director says the bureau cares "deeply about protecting veterans and their families in the consumer financial marketplace." [11/9/15]
- OCC: Ready or Not, Here Come the TRID Exams
The OCC told lenders that it will soon be starting its initial round of examinations looking at compliance with the TILA-RESPA Integrated Disclosure rule. [11/9/15]
- DOJ Proposes $82 Million Settlement with Wells Fargo on Bankruptcy Notices
The DOJ has proposed an $81.6 million settlement agreement with Wells Fargo Bank for WF's repeated failure to provide over 100,000 homeowners with legally required notices under Bankruptcy Laws. The settlement notes that WF's failure denied homeowners the opportunity to challenge the accuracy of mortgage payment increases. [11/6/15]
- Surcharge Planned on Major Banks to Boost FDIC Deposit Insurance Fund
The FDIC has proposed a surcharge on the quarterly assessments of insured depository institutions with total consolidated assets of $10 billion or more aimed at increasing the Deposit Insurance Fund (DIF or fund) to 1.35%. The surcharge is expected to launch in 2016 and end by 2018 and will give surcharged FIs a credit that can be applied against future charges when the DIF exceeds 1.40. [11/6/15]
- Massive Debt Collection Crackdown
The FTC has joined with other law enforcement authorities around the country to launch "Operation Collection Protection" against debt collectors who use illegal tactics. The crackdown announcement was accompanied by the announcement of 30 new law enforcement actions. [11/5/15]
- Smart Phones May Be the Key to Banking Unbanked
The CFPB report highlights that 44% of unbanked individuals have smart phones. Mobile banking may be the key to banking them. [11/5/15]
- Not All Banks on the FDIC’s CRA Compliance List Are Satisfactory
The FDIC releases the November 2015 list of banks examined for CRA compliance. Not all of the banks received a satisfactory rating; two received outstanding ratings. OCC ratings for October are similar. [11/5/15]
