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Federal Reserve Board and FDIC Release Reports on Signature Bank Findings
The Federal Reserve Board (FRB) on Friday published the results from their review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S....
Fifth Third Fined $20M Over Fake Accounts, Auto Repossessions
The Cincinnati bank must compensate roughly 35,000 harmed consumers. The CFPB settlement resolves a March 2020 lawsuit that asserted the bank created fake accounts and used a “cross-sell” strategy. Dive...
Rule Would Expand CFIUS Coverage of Real Estate Transactions Near Military Installations
On Monday, the U.S. Department of the Treasury, announced a proposed rule that would expand Committee on Foreign Investment in the United States (CFIUS) jurisdictions over transactions near military installations....
July 12: CFPB Recent Updates
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services,...
Podcast: Open Banking and the Benefits of Interoperability
Just months after many of the mandates in the European Union’s Digital Markets Act (DMA) have gone into effect, interoperability and data portability are fresh on the policy world’s mind....
NCUA Releases Annual Cybersecurity and Credit Union System Resilience Report
Report Describes Measures Taken to Strengthen Cybersecurity The National Credit Union Administration released today its annual...
June 28: Recent CFPB Activities
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations,...
Second Credit Union Enters into Partnership With Blockchain Initiative
A second credit union has announced a partnership with San Francisco-based Metallicus, the core developer of Metal Blockchain, the foundational Layer O blockchain. The organization said One AZ Credit Union...
Lawsuit Over U.S. Credit Card Late Fees Rule Must Stay in Texas
The U.S. Consumer Financial Protection Bureau on Tuesday suffered a jurisdictional setback in a lawsuit challenging its new rule capping credit card late fees at $8 when a federal appeals...
June 21: Recent CFPB Activities
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services,...
ICYMI: CFPB, Financial Trades Clash Over Wire Transfer Fraud Liability
CFPB says wire transfers are covered by the Electronic Funds Transfer Act Financial services trade groups are railing against the Consumer Financial Protection Bureau’s assertion that consumers who initiate a...
June 14: Recent FinCEN Activities
FinCEN Seeks Comments on Renewal of OMB Control Number for Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions and Private Banking Accounts On June 11, 2024, the Financial...
June 14: Recent CFPB Activities
The Consumer Financial Protection Bureau The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders,...