In the News
Malicious Actors Trying to Exploit Global Tech Outage for Their Own Gain
As the world continues to recover from massive business and travel disruptions caused by a faulty software update from cybersecurity firm CrowdStrike, malicious actors are trying to exploit the situation...
Trump vs. Harris: What it Means for Banks and Credit Unions
President Biden’s decision not to seek reelection , and to endorse Vice President Kamala Harris in his stead, sent ripple effects throughout the banking industry on Sunday. “While it has...
July 26: CFPB Recent Updates
PUBLISHED JUL 24, 2024 CFPB Report Highlights Junk Fees Charged by School Lunch Payment Platforms The Consumer Financial Protection Bureau (CFPB) today released a report on payment processing companies that help...
FinCEN Issues FAQs on Dissolved Entities’ Beneficial Ownership Reporting Requirements
Go-To Guide: FinCEN has issued new guidance on the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) for non-exempt entities (Reporting Companies) dissolved after the CTA’s...
Summary: NCUA July Board Meeting
The NCUA Board met July 18, 2024 to discuss three items: Proposed Rule – Succession Planning under Parts 701 and 741 of NCUA’s Rules and Regulations; Proposed Rule – Incentive-Based...
July 19: CFPB Recent Updates
PUBLISHED JUL 18, 2024 Agencies Finalize Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations Five federal regulatory agencies today issued final guidance addressing reconsiderations of value (ROVs) for...
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,...