Links in “Agencies”

In a recent speech, the director of the CFPB reiterated that the bureau is continuing to consider a proposal to prevent financial institutions from using "free pass" arbitration clauses that would prevent consumers from bringing class action lawsuits. [2/23/16]

When it comes to protecting against debt-collection abuses, the FTC wants you to know it has been busy. From filing amicus briefs, to consulting with the CFPB in connection with upcoming rulemaking, to its 18 debt collection cases (a new best), to launching 12 new enforcement actions under "Operation Collection Protection," there is much to be done in the world of shady debt-collection practices. [2/23/16]

NCUA has released a three-segment video explaining how board members can work to develop successful strategic policies. [2/22/16]

OCC released its list of new enforcement actions. New Jersey wins the month for new actions, while Delaware takes home the prize for terminations of enforcement actions. [2/22/16]

The Fed has published interim final rules that raise the asset size limit for qualifying, well-capitalized banks from $500 million to $1 billion. So did the FDIC and OCC. [2/22/16]

A group of 30 lawmakers wrote to the NCUA asking for the 18-month exam cycle for well-run credit unions. [2/19/16]

The CFPB has completed a policy aimed at promoting innovation by providing companies a way to vet new products for compliance concerns before launch through the use of “no-action” letters. However, several associations are pointing out that the bureau’s policy does virtually nothing to reduce regulatory uncertainty, as the scope of the letters is limited and the letters themselves are anticipated to be granted rarely. [2/19/16]

The CFPB is proposing a new information collection, “Application Process for Designation of Rural Area under Federal Consumer Financial Law.” Comments are invited concerning ways to enhance the quality and clarity of the collected information, as well as ways to minimize the burden of collection for respondents. [2/19/16]

FTC hits a group of defendants who took sensitive information from their pay-day loan websites and sold that information to entities that used the data to scam millions of dollars from the victims. [2/19/16]

The Federal Deposit Insurance Corporation (FDIC) has approved new record keeping requirements for insured depository institutions. This proposal would require institutions with more than 2 million deposit accounts to maintain complete and accurate data on each depositor. [2/18/15]