Month: December 2021

Federal Reserve Board announces termination of enforcement action with Cornerstone Bancshares, Inc.

Federal Reserve Board announces termination of enforcement action with Cornerstone Bancshares, Inc.

Federal Reserve Board announces termination of enforcement action with Cornerstone Bancshares, Inc.

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/enforcement20211223a.htm

Federal Bank Regulatory Agencies Release 2020 Small Business, Small Farm, and Community Development Lending Data

The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and c…

The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2021/nr-ia-2021-141.html

CFPB Shutters Lending by VC-Backed Fintech for Violating Agency Order

Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it co…

Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it continued to engage in illegal and deceptive marketing in violation of a 2016 CFPB order. The lawsuit also accuses LendUp of violating fair lending regulations.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-shutters-lending-by-vc-backed-fintech-for-violating-agency-order/

OCC Reports Third Quarter 2021 Bank Trading Revenue

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $6.8 billion in the third quarter of 2021.

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $6.8 billion in the third quarter of 2021.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-140.html

CFPB and DOJ Put Landlords and Mortgage Servicers on Notice About Servicemembers’ and Veterans’ Rights

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) issued two joint letters today regarding important legal housing protections for military families.

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) issued two joint letters today regarding important legal housing protections for military families.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-doj-put-landlords-and-mortgage-servicers-on-notice-about-servicemembers-and-veterans-rights/

Acting Comptroller of the Currency Issues Statement in Support of the FSOC’s Climate-related Financial Risk Committee

Acting Comptroller of the Currency Michael J. Hsu today released the following statement in support of the Financial Stability Oversight Council’s (FSOC) new Climate-related Financial Risk Committee.

Acting Comptroller of the Currency Michael J. Hsu today released the following statement in support of the Financial Stability Oversight Council's (FSOC) new Climate-related Financial Risk Committee.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-139.html