News stories tagged CFPB
CFPB Gets Earful on Limiting Credit Card Late Fees
The Consumer Financial Protection Bureau is taking heat from banks and credit unions over its proposal to limit increases in credit card late fees that would otherwise increase because of...
Member Benefit: FinCEN and CFPB Summaries
Financial Crimes Enforcement Network (FinCEN), Treasury ACTION: Advance notice of proposed rulemaking. No-Action Letter Process TOPIC: FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment...
Member Benefit: CFPB Summary on the Request for Information Regarding Relationship Banking and Customer Service
BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2022–0040] Federal Register Posting: Request for Information Regarding Relationship Banking and Customer Service AGENCY: Bureau of Consumer Financial Protection. ACTION: Request for information....
New Report Explores the Impact of Credit Card Line Decreases on Consumers
June 29, 2022 — When credit risk is on the rise, such as during an economic downturn, credit card companies may look at reducing consumers’ available credit limits to prevent...
CFPB & FDIC BoD on the Amended Deposit Insurance Fund Restoration Plan and Revised Deposit Insurance Assessment Rates
One of the FDIC’s most important responsibilities is to prudently manage the Deposit Insurance Fund. The FDIC’s ability to credibly guarantee our nation’s insured deposits is vital for the stability...
CFPB Orders Bank of America to Pay $10 Million Penalty for Illegal Garnishments
America’s second-largest bank unlawfully garnished the accounts of thousands of its customers May 04, 2022 – The Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against Bank of America...
NASCUS Summary: Compliance Bulletin on the Mitigating Harm from Repossession of Automobiles
CFPB Bulletin 2022-04: Compliance Bulletin re: Mitigating Harm from Repossession of Automobiles 12 CFR Chapter X The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the...
NASCUS Summary: Compliance Bulletin on the Electronic Fund Transfer Act
CFPB Bulletin 2022-02: Compliance Bulletin on the Electronic Fund Transfer Act’s Compulsory Use Prohibition and Government Benefit Accounts Section 913 of the Electronic Fund Transfer Act (EFTA) provides, among other...
Bureau regulatory agenda mute on overdraft programs – for now
Feb. 4, 2022 — The phrase “overdraft protection” does not appear in the “semiannual regulatory agenda” published this week by the CFPB in the Federal Register. But there may be...
CFPB updates consumer reporting company list
(Jan. 28, 2022) A list of “dozens of specialty reporting companies that collect and sell access to people’s data” was released Thursday by the CFPB. The data collected, the agency...
BRIEFLY: Letter reminds FCUs their op fees drop average of nearly 25%; NCUA, bank regulators dinged in privacy report; ‘Consumer law’ task force records to be released
(Jan. 21, 2022) Federal credit union (FCU) operating fees will decrease by an average of 23.7% in 2022, NCUA told the FCUs in a letter Thursday (letter to FCUs 22-FCU-01)....
CFPB reminds medical debt collectors of obligations
(Jan. 14, 2022) A reminder to debt collectors of their obligations when collecting medical debts to comply with federal prohibitions on misrepresentations and unfair practices was issued Thursday by the...