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OCC Requests Comment on Proposal to Update Activities and Operations Rules and its Rules on Digital Activities
June 4, 2020 / Source: OCC
News Release 2020-76 | June 4, 2020 OCC Requests Comment on Proposal to Update Activities and Operations Rules and its Rules on Digital Activities WASHINGTON–The Office of the Comptroller of the Currency (OCC) today released two issuances for public comment. The OCC published a Notice of Proposed Rulemaking (NPR) for public comment to update its rules for national…
Consumer Financial Protection Bureau Takes Action to Help Consumers Receive Relief from Credit Card Issuers
June 3, 2020 / Source: CFPB
Consumer Financial Protection Bureau Takes Action to Help Consumers Receive Relief from Credit Card Issuers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today took action to help consumers receive relief during the pandemic more quickly from their credit card issuer. Regulation Z requires that creditors provide written disclosures to consumers for account-opening and temporary…
FHFA Publishes Final Rule on the FHLBanks’ Housing Goals
June 3, 2020 / Source: FHFA
News Release FHFA Publishes Final Rule on the FHLBanks' Housing Goals Rule provides greater availability of mortgage financing for underserved borrowers FOR IMMEDIATE RELEASE 6/3/2020 Washington, D.C. – To help underserved borrowers, the Federal Housing Finance Agency (FHFA) today sent to the Federal Register for publication a final rule on the Federal Home Loan Banks’ (FHLBanks)…
Consumer Compliance Examination Manual May 2020 Update
June 3, 2020 / Source: FDIC
Consumer Compliance Examination Manual May 2020 Update The CEM provides supervisory information to FDIC examination staff that conduct consumer compliance examinations, Community Reinvestment Act performance evaluations, and other supervisory activities. It includes supervisory policies and examination procedures for evaluating financial institutions’ compliance with federal consumer protection laws and regulations. The CEM is designed to promote…
Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices
June 2, 2020 / Source: CFPB
Consumer Financial Protection Bureau Settles with Short-term Lenders for Engaging in Unfair and Deceptive Acts and Practices JUN 02, 2020 WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (Bureau) announced a settlement with Main Street Personal Finance, Inc. and its subsidiaries—ACAC, Inc., which conducts business under the name Approved Cash Advance, and Quik Lend, Inc.—(collectively,…
OCC Releases CRA Evaluations for 17 National Banks and Federal Savings Associations June 2020
June 2, 2020 / Source: OCC
News Release 2020-74 | June 2, 2020 OCC Releases CRA Evaluations for 17 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 May 1, 2020 through May 31, 2020. The list contains only national…
FHFA Announces Public Webinar on Re-Proposed Capital Rule for the Enterprises
June 1, 2020 / Source: FHFA
News Release FHFA Announces Public Webinar on Re-Proposed Capital Rule for the Enterprises Transparency effort intended to inform public and housing finance market about re-proposal FOR IMMEDIATE RELEASE 6/1/2020 Washington, D.C. – To provide transparency and better inform public comment and the housing finance market, the Federal Housing Finance Agency (FHFA) will host a webinar on…
OCC Sounds Warning About Effects of COVID-19 ‘Lockdowns’ on Banking System
June 1, 2020 / Source: OCC
News Release 2020-73 | June 1, 2020 OCC Sounds Warning About Effects of COVID-19 'Lockdowns' on Banking System WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system. In letters to the National League of Cities, the U.S. Conference of Mayors,…