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CFPB Launches Inquiry Into Overdraft Practices
Bureau Explores Ways to Help Consumers Avoid Overdraft Penalty Fees.
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CFPB Convenes Small Business Panel for Know Before You Owe Mortgage Disclosures
The Consumer Financial Protection Bureau (CFPB) is announcing today the formation of a Small Business Review Panel as part of its initiative to integrate the mortgage disclosure forms that ...
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FTC Offers Warning, Advice on Tax-Related Identity Theft
The Federal Trade Commission, the nation's consumer protection agency, cautions that thieves can use a stolen Social Security number to apply for a job or file for a tax refund under a false identity.
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Know Before You Owe: The Last Dance...or is it?
The CFPB would like you to share your thoughts on these revised prototypes for the Loan Estimate and the Settlement Disclosure.
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Court Halts Alleged Fake Debt Collector Calls from India
At the request of the Federal Trade Commission, a U.S. district court has halted an operation that the FTC alleges collected phantom payday loan “debts” that consumers did not owe.
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The CFPB Wants to Include Debt Collectors and Consumer Reporting Agencies Under it's Nonbank Supervision Program
The CFPB issued a proposed rule that would require all debt collectors and credit reporting agencies that fall under the definition of large participants to be subject to the same ...
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OCC Releases New Enforcement Actions
The OCC today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal ...
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OCC Newsletter Focuses on Bank Financing for Homeless Housing Facilities
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U.S. Corporations Join Volcker Rule Critics' Club
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Federal Government Settles Fraud Lawsuit Against CITIMORTGAGE, INC. for Reckless Mortgage Lending Practices
Bank Admits and Accepts Responsibility for Failing to Comply with Certain HUD-Related Loan Requirements and Other Conduct and Agrees to Pay U.S. $158.3 Million.
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Senators Unveil Major Cybersecurity Bill
Measure Would Update FISMA, Encourage Sharing of Cyberthreats.
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Moody's May Downgrade UBS and Morgan Stanley
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading ...
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Fraud: The Latest Threats
Watch Cross-Channel Links Between Online and Mobile Banking.
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CFPB Seeks Input on Draft Monthly Mortgage Statement
Statement prototype designed to help consumers understand mortgage costs.
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Deadline to Request Review Under the Independent Foreclosure Review Extended
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FFIEC Guidance: What Banks are Missing
New Insight on How to Meet Regulators' Expectations.
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FTC Action Leads to Ban on Alleged Mortgage Relief Scammers
Defendant Ordered to Surrender Yacht, Cadillac, and Rolex.
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FDIC Future of Community Banking Conference
The FDIC will host a one-day conference on "The Future of Community Banking".
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Obama Budget Would Double Bank Tax Size
President Obama's budget plan calls for a bank tax twice as big as the one he proposed last year, a further sign he wants to make anti-Wall Street sentiment a major part of his re-election campaign.
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Financial Trade Groups Want Volcker Redone
The trade groups say the way the Volcker Rule, which is meant to eliminate pure proprietary trading businesses, is structured and worded would unduly harm the industry at a cost that doesn’t ...
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FTC Issues Annual Financial Acts Enforcement Report to Federal Reserve
This year's report also discusses future FTC activities and the Dodd-Frank Act, including the Act's establishment of the Consumer Financial Protection Bureau (CPFB).
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UPDATE 1-U.S. House To Move To Protect Bank Information
House Republicans plan to move legislation soon.
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Bank of America Subsidiary Reversing or Refunding $36 Million in Fees
Excessive Default-Related Fees Allegedly Violated Earlier Countrywide Settlement.
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OCC Settles Civil Money Penalties
Penalty Assessment Coordinated with Servicers' Actions and Payments Under Federal-State Settlement.
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12 Charged in Toronto Skimming Scam
International Ties Suspected in ATM, Pay-at-the-Pump Fraud.
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FDIC Deposit Insurance Coverage Seminars
Free Nationwide Telephone Seminars for Bank Officers and Employees.
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E-mail Claiming to Be From the FDIC
The FDIC has received numerous reports of fraudulent e-mails that have the appearance of being sent from the FDIC.
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U.S. House to Move to Protect Bank Information
Banks have been sounding alarms that due to an oversight by Congress when writing the 2010 Dodd-Frank financial reform law, some confidential information that institutions share with the bureau ...
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FTC Warns Marketers That Mobile Apps May Violate Fair Credit Reporting Act
Agency Sends Letter to Marketers of Six Apps for Background Screening.
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7 Steps to Improve Security Incident Handling
New NIST Guidance Targets Computer Incident Response.
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Money Fund Firms, Clients Sour on SEC Proposals
A formal SEC proposal could come within a month, according to mutual fund industry executives.
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Mobile Banking: Guidance Coming?
As Mobile Adoption Grows, So Could Regulatory Action.
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CSBS Releases RFP for Testing and Education Services
The request for proposals is for three separate but related service components
regarding the implementation and maintenance of SAFE Act individual mortgage
loan originator testing and ...
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Company-Run Stress Tests Required by the Dodd-Frank Act
The FDIC is seeking comment on a Notice of Proposed Rulemaking (NPR) to implement requirements of Section 165 (i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Victory for Board of Directors in Executive Pay Lawsuit
While the “say on pay” rules issued by the Securities and Exchange Commission are mandated by Dodd-Frank, it is those SEC rules that require companies to have such a vote.
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FTC Action Halts Telemarketers Who Sold Bogus Credit Cards
As part of the FTC's ongoing crackdown on schemes that prey on financially strapped consumers, the agency seeks to permanently stop the illegal practices and make the defendants pay refunds to ...
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New Guidance on Payments Processing
FDIC Stresses Due Diligence, Transaction Monitoring.
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Testimony by Chairman Bernanke on the Economic Outlook and the Federal Budget Situation
The outlook remains uncertain, however, and close monitoring of economic developments will remain necessary.
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Agencies Issue Guidance on Junior Lien Loan Loss Allowances
The agencies issued the guidance to reiterate policy and to remind regulated financial institutions to monitor all credit quality indicators relevant to credit portfolios, including junior liens.
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FDIC to Host Conference on "The Future of Community Banking"
Ben S. Bernanke, Chairman of the Board of Governors of the Federal Reserve System, and FDIC Director Thomas J. Curry are scheduled to deliver the keynote addresses at the conference. FDIC Acting ...
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CFPB's First Rule will Require 7.7 Million Hours
7.7 million employee hours of work to implement and comply with the new rule.
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IASB and FASB Seek to Reduce Differences in Classification and Measurement Models for Financial Instruments
The boards will explore these key aspects jointly, and then decide whether to issue proposed amendments to IFRS 9 and U.S. Generally Accepted Accounting Principles (U.S. GAAP).
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FDIC Conducts Meeting of Systemic Resolution Advisory Committee
The FDIC created the advisory committee after the passage of Dodd-Frank to provide advice and recommendations on a broad range of issues relevant to the failure and resolution of a systemically ...
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Treasury Completes Wind Down of TARP Small Business Program
$8 Million Gain for Taxpayers.
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Chairman Bachus Announces Committee Schedule for February 1-8, 2012
Committee’s schedule for the first two weeks of February.
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Republicans Leaders of Financial Services Committee Oppose Taxpayer Bailout of Europe
Seeking assurances from the Obama Administration that U.S. taxpayers will not bear the burden of bailing out debt-ridden European governments.
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TDOB Corporate Account Takeover Webinar - 1/25
A webinar on the Practices for Reducing the Risks of Corporate Account Takeover, co-sponsored by Texas Bankers Association and Independent Bankers Association of Texas, and moderated ...
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Texas Finance Commission Adopts, Chapter 155, Texas Administrative Code, Governing Payoff Statements
Mandated use no later than March 15, 2012.
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Chairman Bachus: President Should Use State of the Union to Call for End of ‘Senate Stall’ on Jobs Bills
Four bills that originated in the Financial Services Committee, and later passed the House, would make it easier for small businesses to access capital.
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OCC Appoints Receiver for American Eagle Savings Bank
The OCC acted after the institution had experienced substantial dissipation of assets and earnings due to unsafe or unsound practices.
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CFPB & FTC Pledge to Work Together to Protect Consumers
Efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts.
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FHA Annouces Additional Steps to Limit Risk and Strengthen Finances
Lender Indemnification and Seller Concession Measures Will Help FHA Better Manage Risk While Maintaining Support for the Housing Market and Access for Qualified Borrowers.
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Chairman Bachus Announces Changes in Committee’s Staff Leadership
Financial Services Committee Chairman Spencer Bachus announced two changes to the committee’s staff leadership on Friday.
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