Links in “Agencies”
- How the CFPB Spends its Contract Dollars
The CFPB releases its service contract inventory. Among the top 10 items are a $6 million advertising contract and a $4.3 million contract for outside help to review mortgage loan application data. [6/16/15]
- The Best Offense is a Good Defense
Two new risk assessments, the National Money Laundering Risk Assessment and National Terrorist Financing Risk Assessment, have been released by the Treasury. These assessments are designed to help enable financial institutions to better fight against money laundering. [6/15/15]
- Caught by HUD
A Salt Lake City, Utah, apartment building has been charged with violating the Fair Housing Act by discriminating against persons with disabilities. Discrimination based on disability is one of the most common complaints filed with HUD. [6/15/15]
- FEMA’s New Disaster Visualization Tool Launched
FEMA has launched a new data visualization tool that enables users to see when and where disaster declarations have occurred across the country. Institutions may find the data useful for disaster recovery plan analysis and/or other risk management efforts. Through the platform, users can view the history of disaster declarations by hazard type or year down to the county level along with the financial support provided. [6/12/15]
- NCUA’s Board Meeting Agenda Set
The NCUA's June 18th Board meeting agenda reflects upcoming key matters meriting monitoring. Topics include Flood Insurance, Interagency Diversity Statement, Minority Depository Institution Preservation Program, Paperwork Reduction Act efforts, Interest Rate Ceiling and Member Business Lending proposed rule. Stay tuned. [6/12/15]
- CFPB Blog Seeks Feedback on Student Loans
The CFPB is promoting through its blog efforts to gather information regarding student loan servicers and challenges with student loan debt and repayment roadblocks. Areas of interest including disclosures accuracy, payment processing, late fee imposition, complaint resolution and credit information furnishing. Such fodder will provide material basis for potential actions against loan servicers. [6/12/15]
- CFPB Rule Grants Itself More Supervisory Powers on Nonbank Auto Finance Companies
A new ruling by the CFPB will allow it to supervise larger nonbank auto finance companies for the first time. Oh, and by the way, it updated its Supervisory and Examination Manual for bank and nonbank auto finance companies. Better know what they're going to be looking for. [6/11/15]
- Interagency Diversity Expectations Released
Fulfilling a requirement of the Dodd-Frank Act, the FRB, CFPB, OCC, SEC, FDIC, and NCUA have created an interagency policy statement related to diversity policy and practice standards expected of regulated institutions. Also take a look at the final statement and the board voting. [6/10/15]
- Positive CRA Reviews Posted
The OCC has posted 14 CRA reviews that are now available to the public. Of the 14, none were rated as "substantial noncompliance" or "needs improvement". A list of the available reviews is available here. [6/10/15]
- Enforcement Action Against First Utah Bank Terminated
The FRB has announced the termination of an enforcement action against First Utah Bank, which was originally issued in September of 2009. To search a list of all enforcement actions, click here. [6/10/15]
