Compliance Newshub
Federal Legislation

The CFPB has released Spanish translated Prepaid Rule forms for certain models included in the Prepaid Rule in Regulation E.

DS News - Demetria Lester

The Federal Housing Finance Agency (FHFA) unveils the 2022-2024 Underserved Markets Plans for GSEs under the Duty to Serve (DTS) Program.

The CFPB plans to utilize a dormant authority using a legal provision to examine nonbank financial companies that pose risks to consumers to help level the playing field between banks and nonbanks and is seeking public comments on a procedural rule to make this process more transparent.

The OCC took this action based on the bank’s failure to adopt and implement a compliance program that adequately covers the required Bank Secrecy Act/anti-money laundering (BSA/AML) program elements.

CFPB Blog- Rebecca Borné and Ashwin Vasan

The CFPB has issued a blog post titled "Consumers on course to save $1 billion in NSF fees annually, but some banks continue to charge these fees" in which the 25 banks reporting the most overdraft/NSF revenue in 2021 are listed by name, indicating whether the bank continues charging the fees or has discontinued them.

On April 7, the CFPB released a proposed rule and solicited comments on regulations implementing amendments to the FCRA intended to assist victims of trafficking.

A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending.

The Bureau of Consumer Financial Protection presented its Semi-Annual Report to Congress for the period beginning April 1, 2021 and ending September 30, 2021.

Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) released the Federal Financial Institutions Examination Council's (FFIEC) revised "A Guide to HMDA Reporting: Getting It Right!" (2022 guide).

This edition of the FDIC’s Consumer Compliance Supervisory Highlights includes:

• A description of the most frequently cited violations and other consumer compliance examination observations;
• Information on regulatory developments;
• A summary of consumer compliance resources and information available to financial institutions; and
• An overview of consumer complaint trends.

This Federal Deposit Insurance Corporation (FDIC) has published a Financial Institution Letter (FIL) regarding the joint final rule issued on November 23, 2021 by the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency to establish computer-security incident notification requirements.

The Federal Deposit Insurance Corporation (FDIC) is requesting comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks