Consumer Financial Protection Bureau Settles with Auto Lender for Unfair Loss Damage Waiver Practices

The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.

The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-auto-lender-unfair-loss-damage-waiver-practices/

CFPB to Extend Comment Period for Notice of Proposed Rulemaking on New Category of Qualified Mortgages

The Consumer Financial Protection Bureau is extending the comment period on its notice of proposed rulemaking to create a new category of seasoned qualified mortgages by three days.

The Consumer Financial Protection Bureau is extending the comment period on its notice of proposed rulemaking to create a new category of seasoned qualified mortgages by three days.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-extend-comment-period-notice-proposed-rulemaking-new-category-qualified-mortgages/

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200918a.htm

Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests

Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests

Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200917a.htm

OCC Enforcement Actions

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-2020-122.html

Federal Reserve Board and Federal Open Market Committee release economic projections from the September 15-16 FOMC meeting

Federal Reserve Board and Federal Open Market Committee release economic projections from the September 15-16 FOMC meeting

Federal Reserve Board and Federal Open Market Committee release economic projections from the September 15-16 FOMC meeting

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200916b.htm

OCC Reports Second Quarter 2020 Bank Trading Revenue

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $14.7 billion in the second quarter 2020, which was $8.0 billion, or 119.3 percent, more than the previous quarter.

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $14.7 billion in the second quarter 2020, which was $8.0 billion, or 119.3 percent, more than the previous quarter.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-121.html

Consumer Financial Protection Bureau Announces Advisory Committee Members

Consumer Financial Protection Bureau Director Kathleen L. Kraninger has announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Counc…

Consumer Financial Protection Bureau Director Kathleen L. Kraninger has announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-announces-advisory-committee-members/