Month: May 2020

OCC Issues Third and Fourth Quarter 2020 CRA Evaluation Schedule

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third quarter and fourth quarter 2020.

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third quarter and fourth quarter 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-68.html

Federal Reserve Board extends the application period for membership on the Community Advisory Council

Federal Reserve Board extends the application period for membership on the Community Advisory Council

Federal Reserve Board extends the application period for membership on the Community Advisory Council

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20200526a.htm

CFPB Takes Action to Help Struggling Homeowners Seeking Mitigation Efforts; Consumers Seeking Small-Dollar Loans

The Consumer Financial Protection Bureau announced that it issued two No-Action Letter (NAL) Templates under its innovation policies.

The Consumer Financial Protection Bureau announced that it issued two No-Action Letter (NAL) Templates under its innovation policies.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-helps-struggling-homeowners-seeking-mitigation-efforts-consumers-seeking-small-dollar-loans/

Consumer Financial Protection Bureau and Commonwealth of Massachusetts File Suit Against Credit-Repair Telemarketers

The Consumer Financial Protection Bureau and Commonwealth of Massachusetts Attorney General Maura Healey today jointly filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and Nikitas Tsoukales (also known a…

The Consumer Financial Protection Bureau and Commonwealth of Massachusetts Attorney General Maura Healey today jointly filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and Nikitas Tsoukales (also known as Nikitas Tsoukalis), Key Credit Repair’s president and owner.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-commonwealth-massachusetts-file-suit-against-credit-repair-telemarketers/

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-2020-67.html

Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020

Comptroller of the Currency Joseph M. Otting today announced he will step down from office on May 29, 2020, and pursuant to 12 USC 4 as designated by Secretary of the Treasury Steven T. Mnuchin, First Deputy and Chief Operating Officer Brian P. Brooks …

Comptroller of the Currency Joseph M. Otting today announced he will step down from office on May 29, 2020, and pursuant to 12 USC 4 as designated by Secretary of the Treasury Steven T. Mnuchin, First Deputy and Chief Operating Officer Brian P. Brooks will become Acting Comptroller of the Currency.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-66.html

Consumer Financial Protection Bureau Issues Consumer Complaint Bulletin

The Consumer Financial Protection Bureau issued a report analyzing the complaints received during the COVID-19 pandemic.

The Consumer Financial Protection Bureau issued a report analyzing the complaints received during the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-consumer-complaint-bulletin/

Federal Agencies Share Principles for Offering Responsible Small-Dollar Loans

The federal financial institution regulatory agencies today issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers’ short-term credit needs.

The federal financial institution regulatory agencies today issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers' short-term credit needs.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-65.html