Links in “Agencies”

Abuses in mortgage originations, servicing and foreclosure will cost HSBC $601 million. [2/8/16]

CFPB Director Cordray summarizes the bureau's financial education efforts in this new, 1-minute video. [2/8/16]

The CFPB's Richard Cordray speaks on how the Consumer Bureau is working to help young people and their families make more informed decisions about paying for college and manage their money while in college. The address notes the Consumer Bureau's concerns over the financial challenges many families face as they consider how to pay for post-secondary education of all kinds and the Consumer Bureau's efforts to promote and enforce transparency in the financial market place. [2/5/16]

The CFPB re-promotes its efforts against Ally Bank in Spanish/Espanol. The announcement focuses on CFPB's joint action with the DOJ from 2015 that ordered Ally Bank to pay $80 million in damages to consumers harmed by Ally’s discriminatory auto loan pricing policies. [2/5/16]

The CFPB issued a mandate to promote the existing obligations under the Fair Credit Reporting Act (FCRA) for furnishers of consumer information to consumer reporting agencies (CRAs) to establish and implement reasonable written policies and procedures regarding the accuracy and integrity of information furnished to all CRAs. The mandate comes on the heels of recent CFPB reviews that found non-compliance with furnishers. [2/5/16]

Montauk Credit Union was placed into conservatorship September 18, 2015. While much has been business as usual, Montauk “has taken several steps to address financial and management issues affecting the safety and soundness of its operations.” [2/4/15]

HUD announced its consideration in implementing a new rule which would assess whether individuals and families residing in public housing still require housing assistance in cases where their incomes grow well beyond the levels required for their initial admission. Public comments regarding methods to address this new rule are invited via mail or electronic submission. [2/3/16]

The OCC has released the January list of CRA performance evaluations. Of the twenty financial institutions who received ratings, three received an “outstanding” rating, while the remaining seventeen obtained a “satisfactory”. [2/3/16]

FHA hopes the consolidated handbook will improve consistency in the application of program requirements and reduce the time necessary to process loan applications.  [1/2/16]

Debt-collection practices earns its 28th consecutive month as the number one consumer complaint. A recap of some of the other "lowlights" from the CFPB's monthly complaint snapshot are available here. [2/2/16]