A bank settled CFPB charges of violating the unfair acts and practices provisions of the Consumer Financial Protection Act.
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Federal Reserve Board Vice Chair for Supervision Randal Quarles described the vulnerabilities of nonbank financial intermediation, revealed by COVID-19 related shocks to the financial markets.
The Consumer Financial Protection Bureau delayed the effective date of final rules to enhance consumer protections for prepaid accounts by six months. The new effective date is April 1, 2018.
The Consumer Financial Protection Bureau adopted a final rule to enhance consumer protections for prepaid accounts.
The Office of the Comptroller of the Currency, the CFPB, the FDIC, and the National Credit Union Administration outlined supervisory expectations regarding deposit reconciliation practices for customer accounts.