Links in “Agencies”

FinCEN has renewed its geographic targeting order (GTO) for electronics exporters near Miami, Florida. This will require these types of exporters to implement enhanced reporting and recordkeeping for another 180 days. [10/26/15]

An apartment complex in Texas is being charged with violating the Fair Housing Act, after it was determined that the landlord was imposing “overly restrictive” rules on families with children. Some of which included not allowing children under the age of 16 to use the laundry facility or play in the parking lot without an adult present. [10/26/15]

CFPB Director Richard Cordray has issued a formal response to the “RushCard situation,” where thousands of consumers were unable to access their prepaid cards for more than a week. [10/26/15]

CFPB Director Richard Cordray's addresses a meeting of the Consumer Advisory Board (CAB) focusing on the CFPB's efforts to curtail arbitration clauses, which are seen as negatively impacting consumer's rights to seek action against companies who often use them to block class action lawsuits and sidestepping the legal system. [10/23/15]

The FDIC is looking to increase the Deposit Insurance Fund (DIF) to the statutorily required minimum level of 1.35 percent from the 6/30/2015 level of 1.06 by imposing assessments on larger banks with a fully funded date estimate of 2017. [10/23/15]

The NCUA has proposed to remove the word “original” from the current requirement that bank notes have “original weighted average maturities of less than five years.” This will result in cheaper execution prices, and increase flexibility for FCUs. [10/22/15]

Comptroller of Currency Thomas J. Curry recently spoke before the Exchequer Club. This speech focused on the recent increase in credit risk in the federal banking system. The Comptroller praised financial institutions that avoided high-risk loan products. [10/22/15]

The Housing and Urban Development Department (HUD) has proposed a new rule for use in investigations involving alleged harassment related to the Fair Housing Act, specifying how HUD would evaluate and handle complaints of quid pro quo and hostile environment harassment. [10/21/2015]

The Federal Trade Commission (FTC) has approved final consent orders against two Las Vegas auto dealers for misrepresenting the cost of cars in advertising, including the promotion of heavily discounted prices which were not generally available to consumers. [10/21/2015]

Comptroller of the Currency acknowledges that regulations by nature carry at least some burden, but that the benefits should outweigh the burden. He pledges that the OCC will look for areas where the regulatory rulebook has built up over time to create layer upon layer of burden for small banks. [10/20/15]