Links in “Agencies”
- Geographic Targeting Order Makes Waves
About seven hundred businesses in Miami have been targeted by the Financial Crimes Enforcement Network (FinCEN) due to a possible trade-based money laundering scheme with ties to drug trafficking. This bust was due to the issuance of a geographic targeting order. [4/22/15]
- Green Tree Servicing Agrees to Pay $48 Million in Borrower Restitution
The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) took action against Green Tree over mistreatment of borrowers. [4/22/15]
- Credit Scores for All!
FICO has entered into an agreement with the three credit reporting agencies that will allow millions of consumers to have access to their credit scores and credit reports. [4/22/15]
- NCUA April Report
NCUA's April report is now available. This report covers topics from regulatory relief to identifying record retention deficiencies. [4/22/15]
- Fixing the NCUAâs Fixed Asset Rule
The NCUA has gone back to the drawing board and reissued a revised proposal concerning federal credit unionsâ ownership of fixed assets. The proposed rule issued in 2014 drew mostly negative comments stating that it didnât go far enough in providing credit unions with authority to manage their own resources. This renovated proposal represents a significant improvement over the previous proposal by eliminating altogether the 5% cap on fixed assets. [4/21/15]
- CFPB Shines Light on Hidden Fees
Fort Knox National Company and Military Assistance Company will be charged $3.1 million for failing to disclose various fees and not notifying service members when fees were charged. [4/21/15]
- Language Discrimination?
As the CFPB takes more steps to ensure that non-English speaking consumers have accessibility to financial programs and services, find out what this could mean for you institution. [4/21/15]
- Whatcha Gonna Do When the OCC Comes for You?
The OCC has released its list of April actions, which include one cease and desist order, six civil money penalty orders, and more. [4/20/15]
- McWatters Urges Industry Participation
At an event in Colorado on Friday, Mark McWatters called attention to âmuch-neededâ regulatory relief for credit unions focusing on member-business lending, field-of-membership issues, examinations, appeals, etc. [4/20/15]
- OFAC targets MS-13
Three members of the notorious Central American gang known as the Mara Salvatrucha (MS-13) were included under OFAC for restricted transactions with U.S. persons. The TCO designation action is the first against a transnational criminal street gang by the Treasury Department. [4/17/15]
