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CFPB Takes Action Against Student Lender for Misleading Borrowers about Income Share Agreements
September 7, 2021 / Source: CFPB
CFPB Takes Action Against Student Lender for Misleading Borrowers about Income Share Agreements Consent Order against Student Loan Originator for Deceptive Practices Sends Clear Message to ISA Industry WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) took action today against an income share agreement (ISA) provider for mispresenting its product and failing to comply with…
Statement by CFPB Acting Director Uejio on CFPB Victory in Legal Challenge to Payday Lending Rule Protections
September 7, 2021 / Source: CFPB
Statement by CFPB Acting Director Uejio on CFPB Victory in Legal Challenge to Payday Lending Rule Protections WASHINGTON, D.C. – CFPB Acting Director Dave Uejio issued a statement after the U.S. District Court for the Western District of Texas upheld the Payment Provisions in the CFPB’s 2017 rule on payday, vehicle title, and certain high-cost installment…
Agencies Extend Comment Period on Proposed Risk Management Guidance for Third-Party Relationships
September 7, 2021 / Source: OCC
News Release 2021-93 | September 7, 2021 Agencies Extend Comment Period on Proposed Risk Management Guidance for Third-Party Relationships Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency The federal bank regulatory agencies today announced that they will extend until October 18, 2021, the comment period…
Did you get a notice that your student loans are transferring to a new servicer? Learn more about what this means for you
September 3, 2021 / Source: CFPB
Did you get a notice that your student loans are transferring to a new servicer? Learn more about what this means for you By Austin Mueller – SEP 03, 2021 Over the next few months, many federal student loan borrowers will have their loans transferred to a new servicer. If your loans are currently being serviced…
OCC Hosts Virtual Minority Depository Institutions Advisory Committee Meeting September 21
September 3, 2021 / Source: OCC
News Release 2021-91 | September 3, 2021 OCC Hosts Virtual Minority Depository Institutions Advisory Committee Meeting September 21 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 21, 2021. The meeting is open to the public and will…
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting September 28
September 3, 2021 / Source: OCC
News Release 2021-92 | September 3, 2021 OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting September 28 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, September 28, 2021. The virtual meeting is open to the public and will…
FDIC Releases Results of Summary of Deposits Annual Survey September 3, 2021
September 3, 2021 / Source: FDIC
Press Release FDIC Releases Results of Summary of Deposits Annual Survey For Release The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC–insured institutions as of June 30, 2021. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 81,000…
CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit
September 2, 2021 / Source: CFPB
CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit Proposal Would Increase Transparency in a $2.4 Trillion Sector of the American Economy and Bolster Fair Lending WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need…
OCC Releases CRA Evaluations for 19 National Banks and Federal Savings Associations September 2, 2021
September 2, 2021 / Source: OCC
News Release 2021-90 | September 2, 2021 OCC Releases CRA Evaluations for 19 National Banks and Federal Savings Associations WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of August 1, 2021 through August 31, 2021. The list contains only national…
Federal Reserve Board announces termination of enforcement action with Intesa Sanpaolo S.p.A. and Intesa Sanpaolo S.p.A. New York Branch
September 2, 2021 / Source: FRB
Federal Reserve Board announces termination of enforcement action with Intesa Sanpaolo S.p.A. and Intesa Sanpaolo S.p.A. New York Branch The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below: Intesa Sanpaolo S.p.A., Turin, Italy and Intesa Sanpaolo S.p.A. New York Branch, New York, New York Written Agreement, dated March 2,…
CDFI Fund Announces $5 Billion in New Markets Tax Credits
September 1, 2021 / Source: tr
PRESS RELEASES CDFI Fund Announces $5 Billion in New Markets Tax Credits September 1, 2021 Awards will Spur Economic and Community Development Nationwide WASHINGTON – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in…
Supplemental estimation methodology for institutional coverage and market-level cost estimates in the small business lending data collection notice of proposed rulemaking
September 1, 2021 / Source: CFPB
Industry and markets Supplemental estimation methodology for institutional coverage and market-level cost estimates in the small business lending data collection notice of proposed rulemaking SEP 01, 2021 On September 1, 2021, the Bureau of Consumer Financial Protection (Bureau) released a notice of proposed rulemaking (proposed rule) to amend Regulation B to implement changes to the Equal Credit…
Small Business Lending Data Collection under the Equal Credit Opportunity Act (Regulation B)
September 1, 2021 / Source: CFPB
Proposed rule Small Business Lending Data Collection under the Equal Credit Opportunity Act (Regulation B) SEP 01, 2021 The Bureau of Consumer Financial Protection (Bureau) is publishing for public comment a proposed rule amending Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) made by section 1071 of the Dodd-Frank Wall Street…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Ida
August 31, 2021 / Source: OCC
News Release 2021-88 | Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Ida Joint Release Board of Governors of the Federal Reserve System Conference of State Bank Supervisors Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency The Office of the…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by California Wildfires
August 31, 2021 / Source: OCC
News Release 2021-89 | August 31, 2021 Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by California Wildfires Joint Release Board of Governors of the Federal Reserve System Conference of State Bank Supervisors Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency The Office…
FinCEN to Host Innovation Hours Program Workshop on Digital Identity Services and Technologies
August 31, 2021 / Source: FinCEN
FinCEN to Host Innovation Hours Program Workshop on Digital Identity Services and Technologies Contact Office of Strategic Communications, 703-905-3770 Immediate Release August 31, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) will host a special virtual FinCEN Innovation Hours Program on October 14, 2021, focusing on the important role of digital identity to enhance financial services inclusion while…
FDIC Issues CRA Examination Schedules for Fourth Quarter 2021 and First Quarter 2022
August 30, 2021 / Source: FDIC
Press Release FDIC Issues CRA Examination Schedules for Fourth Quarter 2021 and First Quarter 2022 For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter 2021 and first quarter 2022. CRA regulations require each federal bank and…
FDITECHÂ Opens Registration for Tech Sprint to Measure and Test Bank Resilience
August 30, 2021 / Source: FDIC
Press Release FDITECH Opens Registration for Tech Sprint to Measure and Test Bank Resilience For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today opened the registration period to participate in a tech sprint designed to identify and develop measures, data, and other capabilities to understand how resilient banks are to major disruptions. This tech…
Acting Comptroller of the Currency Issues Statement on Civil Money Penalty Against Cadence Bank, N.A. For Violations of the Fair Housing Act
August 30, 2021 / Source: OCC
News Release 2021-87 | August 30, 2021 Acting Comptroller of the Currency Issues Statement on Civil Money Penalty Against Cadence Bank, N.A. For Violations of the Fair Housing Act WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today released the following statement upon announcement of an enforcement action against Cadence Bank, N.A., Atlanta, for violations of the Fair…
The CDC eviction moratorium has ended: Learn your options
August 27, 2021 / Source: CFPB
The CDC eviction moratorium has ended: Learn your options AUG 27, 2021 On August 26, 2021, the U.S. Supreme Court issued a decision ending the CDC eviction moratorium. If you’re unable to make your rent payments, you’re not alone — here are options and resources to help you get back on your feet. See if…
OCC to Hold Hearing on Charges Against Biagio Maffettone; Agency Seeks Prohibition Order and Civil Money Penalty
August 27, 2021 / Source: OCC
News Release 2021-84 | August 27, 2021 OCC to Hold Hearing on Charges Against Biagio Maffettone; Agency Seeks Prohibition Order and Civil Money Penalty WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Tuesday, August 31, 2021, where the OCC will litigate enforcement actions against Biagio Maffettone,…
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Ida to Close
August 27, 2021 / Source: OCC
News Release 2021-86 | August 27, 2021 OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Ida to Close WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices along the Gulf Coast of the United…
Third-Party Relationships:Â Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks
August 27, 2021 / Source: OCC
OCC Bulletin 2021-40| August 27, 2021 Third-Party Relationships: Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary The Office of the Comptroller of the Currency (OCC), the…
FDIC Makes Public July 2021 Enforcement Actions
August 27, 2021 / Source: FDIC
Press Release FDIC Makes Public July Enforcement Actions No Administrative Hearings Scheduled for September 2021 For Release WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July. There are no administrative hearings scheduled for September 2021. The FDIC issued nine…
Regulatory Relief August 26, 2021 ”Æ’
August 26, 2021 / Source: FDIC
Financial Institution Letter Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Tennessee Affected by Severe Storms and Flooding August 26, 2021 | FIL-58-2021 Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms and…