Acting Comptroller Discusses Managing Tail Risks

Acting Comptroller of the Currency Michael J. Hsu today discussed managing low probability, high impact risk events, or tail risks, at the American Bankers Association Risk 2022 Conference.

Acting Comptroller of the Currency Michael J. Hsu today discussed managing low probability, high impact risk events, or tail risks, at the American Bankers Association Risk 2022 Conference.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-32.html

CFPB Sanctions Edfinancial for Lying about Student Loan Cancellation

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sanctions-edfinancial-for-lying-about-student-loan-cancellation/

CFPB Director Chopra Statement on Edfinancial and Student Loan Cancellation for Public Service

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding Edfinancial and Student Loan Cancellation for Public Service.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-director-chopra-statement-on-edfinancial-and-student-loan-cancellation-for-public-service/

OCC Hosts Mutual Savings Association Advisory Committee Meeting April 19

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, April 19, 2022.

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, April 19, 2022.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-31.html

CFPB Finds Credit Card Companies Charged $12 Billion in Late Fee Penalties in 2020

The Consumer Financial Protection Bureau (CFPB) issued a report today showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment …

The Consumer Financial Protection Bureau (CFPB) issued a report today showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment by the due date.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finds-credit-card-companies-charged-12-billion-in-late-fee-penalties-in-2020/

Acting Comptroller of the Currency Launches Project REACh Efforts in Dallas

Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, bankers, and business leaders to launch Dallas REACh.

Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, bankers, and business leaders to launch Dallas REACh.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-30.html

“Reining in Repeat Offenders”: 2022 Distinguished Lecture on Regulation, University of Pennsylvania Law School

Prepared remarks of Rohit Chopra at the University of Pennsylvania Law School.

Prepared remarks of Rohit Chopra at the University of Pennsylvania Law School.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/reining-in-repeat-offenders-2022-distinguished-lecture-on-regulation-university-of-pennsylvania-law-school/

Federal Reserve Board announces it will extend comment period for proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board until May 5, 2022

Federal Reserve Board announces it will extend comment period for proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board until May 5, 2022

Federal Reserve Board announces it will extend comment period for proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board until May 5, 2022

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20220325a.htm

OCC Reports Fourth Quarter 2021 Bank Trading Revenue

The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $7.5 billion in the fourth quarter of 2021.

The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $7.5 billion in the fourth quarter of 2021.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-29.html

2021 HMDA Data on Mortgage Lending Now Available

The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2021 are now available on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,316 HMDA filers. The published data contain l…

The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2021 are now available on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,316 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect consumer privacy.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/2021-hmda-data-on-mortgage-lending-now-available/