Links in “Agencies”
- Mortgage and Debt Fraud, Coming Right Up!
A settlement with Linden Financial Group was made today for the price of $28.6 million. Linden Financial Group was caught soliciting mortgage and debt relief scams back in June 2014. [4/6/15]
- Revised Debt Guidelines
The OCC has revised its guidance to banks regarding subordinated debt in order to be consistent with 12 CFR 3. [4/6/15]
- Risk Watch 55: What Financial Institutions Can Learn from the CFPBâs Own Diversity Issues
Since receiving stinging reports of racial disparity, the CFPB has been given an audit from the the Office of Inspector General on how to improve its diversity and inclusion efforts. What can financial institutions learn from the report? [4/3/15]
- New Special Information Booklet Released
The CFPB announced the availability of the new RESPA Special Information Booklet now under the title of âYour Home Loan Toolkit: A Step-by-Step Guide." This version of the Booklet incorporates statutory amendments and the Loan Estimate and Closing Disclosure from the Bureau's final rule, Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X), and the Truth in Lending Act (Regulation Z) (Integrated Disclosures Final Rule). [4/3/15]
- OCC Presents Efforts on Community Banking
Comptroller of the Currency Thomas J. Curry discussed efforts to strengthen community banking through flexibility expansion of the federal thrift charter, efforts to reduce unnecessary burden in the regulatory process and enhancements made to institutional readiness regarding cyber threats. [4/3/15]
- Service Members Are Getting an Extension on Protections
The OCC extended temporary protections to service members through 2015 year-end, because of a variety of mortgage-related issues. [4/2/15]
- Celebrate Fair Housing Month with HUD!
HUD is kicking off Fair Housing Month festivities with a new national media campaign to help the public recognize housing discrimination. [4/2/15]
- New Tool to Give Mortgage Shoppers an Edge in the Marketplace
The CFPB released a new feature called "Your Home Loan Toolkit," which will assist consumers through the process of shopping for a mortgage and buying a home. The new toolkit was produced as part of the CFPB's "Know Before You Owe" initiative." [4/1/15]
- Wells Fargo Gets the Green Light for New Risk-Based Capital Requirements
Wells Fargo received permission from the Federal Reserve Board and the Office of the Comptroller of the Currency to begin using the "advanced approaches" capital framework. The new framework, which will be implemented in the second quarter of 2015, will allow Wells Fargo to consider specific risk-measurement and risk-management criteria when calculating risk-based capital requirements. This new framework is built on standards developed by the Basel Committee on Banking Supervision. [4/1/15]
- Brush Up on Your Knowledge During Financial Literacy Month
National Credit Union Administrator Chairman Debbie Matz urged credit unions to help educate members on financial topics during the upcoming financial literacy month. The NCUA is planning several educational activities such as a webinar and an open Twitter chat. The NCUA will also participate in the Financial Literacy Day event on Capitol Hill. [3/31/15]
