CFPB Announces Policy Regarding Prohibition on Abusive Acts of Practices

The Consumer Financial Protection Bureau (Bureau) issued a policy statement providing a common-sense framework on how it intends to apply the “abusiveness” standard in supervision and enforcement matters.

The Consumer Financial Protection Bureau (Bureau) issued a policy statement providing a common-sense framework on how it intends to apply the “abusiveness” standard in supervision and enforcement matters.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-policy-regarding-prohibition-abusive-acts-practices/

OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others

The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (C…

The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank's former Chief Executive Officer (CEO) and other members of the bank's operating committee.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-6.html

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/