Links in “Agencies”

Have you ever heard the saying, give a man a fish and you will feed him for a day; teach a man to fish and you will feed him for a lifetime? HUD is taking this saying to heart by dishing out $24 million in order to help low-income public housing residents learn how to fish. [10/13/14]

In an effort to become more innovative, the CFPB have proposed the concept of a No-Action Letter. The goal of this letter is to “reduce the regulatory uncertainty that may exist for certain emerging product or services.” [10/13/14]

How are your after-employment IT access procedures? After one federal IT contractor was terminated, the Virginia man continued to use his credentials to crash a Fannie Mae website. He's been sentenced to three years of supervised release, 50 hours of community service and to pay $70K in restitution. [10/13/14]

CFPB and FTC will host a roundtable on debt collection practices on Latino consumers, especially those with limited English proficiency. [10/13/14]

M&T Bank, New York, deceptively advertised free checking accounts with no strings attached. As it turns out, there were strings. Customers had to maintain a certain amount of activity to maintain the free status of the account and the bank would convert it into an account with fees if activity requirements were not met. What’s more, customers were not advised the change took place. [10/10/14]

The HUD announced a $5 million settlement with Wells Fargo, continuing the recent trend of going after lenders discriminating against pregnant women and women on maternity leave. [10/10/14]

The FDIC will be hosting a free teleconference on October 22 relevant to all FDIC-supervised institutions. The focus will include regulatory and compliance issues centered on ability to repay, qualified mortgages, and loan officer compensation final rules. [10/9/14]

CFPB Director Richard Cordray led a discussion related to access to checking accounts and how consumers are affected. A full overview of the forum is available here, and a video recording will soon be provided as well. [10/9/14]

The OCC has released the results of 39 CRA evaluations for the month of September. Five institutions received a ranking of outstanding, with 33 ranked as satisfactory and one ranked as needs improvement. [10/9/14]

In a meeting at the White House, President Obama commended regulators for progress made in strengthening the financial system and implementing "the strongest consumer protections in history." [10/8/14]