Links in “Agencies”

A recent speech by the OCC's Curry before the Federal Agencies and Branches Outreach Meeting highlights BSA & OFAC requirements and OCC expectations for a sound, dynamic response to risks. [2/6/15]

The Sixth Circuit Court renewed a Detroit-based commercial law corporation’s lawsuit against the FDIC for $176,750 in deferred attorney’s fees for legal services provided by the corporation to a now-failed Michigan bank. The FDIC had relied upon the D’Oench doctrine, a 1940s case which focused on the inability to demand rights against the FDIC when evidence such as non-written statements are relied upon. [2/6/15]

Continental Finance Company LLC must refund $2.7 million to consumers and pay a civil penalty of $250,000 for charging illegal credit card fees. [2/5/15]

The OCC spoke up regarding the regulatory burdens placed on smaller banks and has come up with three proposals, which you can read about here. [2/5/15]

In what is defined as a “significant step” the NCUA will be streaming its open Board meetings live beginning on February 19^th. [2/5/15]

If you have student loans and have to pay taxes this year, there may be an easier solution for you. The U.S. Treasury and Education Departments have partnered with tax gurus H&R Block and Intuit in order to provide better service to tax payers with student loans. [2/5/15]

Corinthian College is on the hot seat for conducting what the CFPB has defined as “predatory” lending. The current and former students of Corinthian College will be receiving a total of $480 million in debt relief. [2/4/15]

The CFPB is asking a federal district court to ban Union Workers Credit Services from offering any type of credit product or service after the company took part in a “bogus credit card operation.” [2/4/15]

A recent CFPB report shows that college students are choosing to use debit cards over credit cards. This trend is largely attributable to the 2009 CARD Act's disclosure requirements, which have triggered a 70% drop in credit card offers. [2/3/15]

NCUA staff will conduct a free webinar on February 20^th at 2:00 pm EST on fair lending and HMDA compliance.  The webinar is designed to focus on the agency’s examination process, best practices, and common HMDA reporting errors. [2/3/15]