OCC Fines Citibank More Than $17 Million for Violating the Flood Disaster Protection Act

The Office of the Comptroller of the Currency (OCC) today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 (FDPA) and its implementing regulations.

The Office of the Comptroller of the Currency (OCC) today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 (FDPA) and its implementing regulations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-5.html

CFPB Announces Additional Member of Taskforce on Federal Consumer Financial Law

The Consumer Financial Protection Bureau (CFPB) today announced an additional member who will serve on the Taskforce on Federal Consumer Financial Law.  

The Consumer Financial Protection Bureau (CFPB) today announced an additional member who will serve on the Taskforce on Federal Consumer Financial Law.  

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-additional-member-to-taskforce/

OCC Enforcement Actions and Terminations

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-4.html

Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020

Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020

Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20200114a.htm

Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020

Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020

Federal Reserve Board announces appointment of the chairs and deputy chairs of the Federal Reserve Banks for 2020

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20200110b.htm

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2019

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20200110a.htm

Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers

CFPB granted a no-action letter to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies certified by the U.S. Department of Housing and Urban Development.

CFPB granted a no-action letter to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies certified by the U.S. Department of Housing and Urban Development.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-no-action-letter-to-facilitate-housing-counseling-services/

Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies

The Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engagi…

The Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engaging in deceptive conduct.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-action-against-monster-loans-lend-tech-loans-and-student-loan-debt-relief-companies/