Links in “Agencies”

Ever trying to protect consumers, the CFPB has offered guidance on four simple steps to take if you think your debit or credit card data may have been hacked. This guidance seeks to mitigate the mess caused by several high-profile security breaches and to help consumers help themselves during uncertain times. [9/10/14]

The Federal Reserve Board and CFPB have announced increases in thresholds pertaining to Regulations Z and M as required the Dodd-Frank Act. These thresholds are to be adjusted annually based on increases in the Consumer Price Index, and will take effect on January 1, 2015. [9/10/14]

The CFPB is inviting comments regarding its data collection practices, what kind of data should be collected, and the burden imposed through information collection. Now is the time to tell them how you feel. [9/9/14]

Definition of what qualifies as economic development confusing you? The Fed, OCC, and FDIC are releasing a new question and answer document with more information on the CRA but first they want you to take a look and make a comment. [9/9/14]

FEMA wants you to get prepared, and what better way to get people to prepare than use what millions of Americans already have? FEMA has provided useful tips to enable you to use your phone in order to get better prepared for disasters. [9/8/14]

If you have ever wondered what happens during CFPB Board meetings, you are in luck. The next meeting is scheduled to take place Thursday, September 11, 2014 and is open to the public. [9/8/14]

The FDIC released a list of the banks recently evaluated for CRA compliance. Take a look to see how other banks are doing and what examiners are focusing on. [9/5/14]

Credit card companies have been officially warned by the CFPB against deceptively marketing special interest rate promotions. Certain companies have been offering consumers reduced or zero interest deals for transferring specific purchases and balances from another credit card, and then hammering consumers with hidden interest charges. The CFPB has directed that a clear disclosure of costs and risks must be made prior to signing consumers up for such programs. [9/4/14]

Bloomberg reports a family's plight as their in-progress modification got lost in the shuffle of a mortgage deal between Bank of America and Nationstar Mortgage. "Regulators never anticipated their servicing rules would be dodged by banks simply by selling off their mortgage servicing business to ... nonbank companies." [9/4/14]

Recent court cases held in the Sixth Circuit Court of Appeals and the Eighth Circuit Court of Appeals regarding whether or not spousal cosigners are considered applicants have produced contradictory rulings. The intended determination is whether or not spousal cosigners should receive the protection of Reg. B that applicants receive. Although this specific contradiction may result in appeals to the Supreme Court, institutions should understand that they must continue to be cautious in requiring a spousal guarantor or cosigner and that applicants remain entitled to protection by ECOA. [9/4/14]