Links in “Agencies”
- It’s a New Day for the CFPB: NewDay Financial LLC Pays Big
The CFPB has taken action against a Maryland-based nonbank lender, NewDay Financial, for deceptive advertising and kickback schemes. The company will pay $2 million in civil money penalties. [2/11/15]
- NCUA Seeks to Offset Burden to Credit Unions
Larry Fazio of the NCUA explains the need for the NCUA to have authority to oversee third-party vendors in order to further reduce the regulatory burden to credit unions. [2/11/15]
- Cordray Plays Favorites with Credit Unions
CFPB Director Richard Cordray spoke in an NCUA webinar Tuesday, emphasizing that many past and recent actions by the CFPB have been efforts to show support to credit unions and other small creditors. [2/11/15]
- FTC Debt Collection Actions
The FTC recently submitted its yearly summary of actions on the Fair Debt Collection Practices Act (FDCPA). Among other actions, the FTC filed 10 new debt collection cases, banned 47 companies and individuals from working in debt collection, and resolved nine cases totaling $140 million in judgments. [2/10/15]
- NCUA: Calling All Outdated Regulations
Have an idea about which regulations should be reviewed by the NCUA this year? The NCUA is now accepting public suggestions on which regulations need to be reviewed in 2015. Suggestions must be received by August 3. [2/10/15]
- Reverse Mortgage Mayhem
The CFPB recently released a report outlining the most common consumer complaints regarding reverse mortgages. The report aims to inform consumers about the unique aspects of reverse mortgages in an effort to protect individuals from financial trouble. [2/10/15]
- FFIEC Provides New Appendix
The FFIEC released a new appendix, Appendix J, to the Business Continuity Planning Booklet. This appendix mainly focuses on third-party risk management. [2/9/15]
- NCUA and SBA Suit Up
The NCUA and SBA (Small Business Administration) have formed a partnership with the goal of increasing the awareness of credit unions to programs offered by the SBA. [2/9/15]
- Going, Going, Gone
The RFC on same day ACH closed on Friday, February 6th. NACHA will be reviewing all of the responses submitted and will continue to post updates on its website. [2/9/15]
- FEMA’s Future Federal Funding in Floodplains Unfurled
FEMA looks to stakeholders for comments on new standards related to future federal funding (investments) in floodplains. These include using the best counteracting data and methods and ensuring minimum levels are above floodplains depending on risk factors. Comment period ends April 6, 2015. [2/6/15]
