Links in “Agencies”

According to the FFIEC, cyber attacks involving extortion are becoming more and more frequent. The FFIEC recently released a statement outlining how financial institutions can mitigate such attacks, which can be located here. [11/4/15]

The CFPB released its monthly Complaint Report for the month of October. Credit card complaints are seemingly increasing, which may lead to increased CFPB scrutiny of related regulatory violations and unfair, deceptive, or abusive practices. [11/4/15]

The CFPB announced revisions to the way financial institutions can appeal a supervisory action, including extending the timeframe it has to issue a written decision to 60 days, limiting oral presentations to those issues in the written appeal, and not allowing appeals on pending matters until the action has been resolved. [11/4/15]

Through the Section 108 Loan Guarantee Program, local governments can turn a limited amount of Community Development Block Grant funding into federally guaranteed loans for use in economic revitalization. Under the Housing and Urban Development Department's final rule, fees will be collected from borrowers to offset credit subsidy costs.  [11/03/15]

If you missed the CFPB's October Consumer Advisory Board meeting, you're not out of luck. Video of the meeting is now available on the bureau's YouTube channel. But you may want to clear your afternoon: Part 1 is 2 hours 22 minutes, and part 2 is 1 hour 31 minutes. There's also a transcript for you impatient types. [11/3/15]

FDIC issued 36 enforcement orders in September, including 10 removal and prohibition orders. [11/2/15]

NCUA issues prohibition orders against three former credit union employees. One for embezzlement, band fraud and aggravated identity theft; one for credit union theft; and one for money laundering and embezzlement. [11/2/15]

OCC's Curry talked about increasing credit risks to the federal banking system with the Risk Management Association. [11/2/15]

CFPB has served noticed that it is interested in the quality of employment background screening reports. It has hit two of the largest background check providers for violations under the Fair Credit Reporting Act. The bureau says the companies failed to take basic steps to assure the information reported about job applicants was accurate and that they included impermissible information in consumer reports. The companies have been ordered to fix their problems, provide $10.5 million in consumer relief, and pay a $2.5 million civil penalty. [10/30/15]

The Department of Justice reached resolution with four Swiss Banks (Luzerner Kantonalbank AG, Habib Bank AG Zurich, Banque Heritage S.A. and Hyposwiss Private Bank Genève S.A.) under the department’s Swiss Bank Program. Penalties announced totaled over $25 million and require continue cooperation with the DOJ. The 2013 program provides a path for Swiss banks to resolve potential criminal liabilities in the United States if they weren't then under criminal investigation related to their Swiss-banking activities. [10/30/15]