A non-U.S. bank and its New York State branch settled separate charges with the Federal Reserve Board and the New York Department of Financial Services for unauthorized disclosure of confidential supervisory information and anti-money laundering and related violations.
News & Insights
The CFPB reminded consumer reporting companies of their obligations under the Fair Credit Reporting Act to (i) address inaccurate information found in background checks, (ii) monitor for improper credit file sharing and (iii) ensure that background check information is accessible to consumers.
The Congressional Research Service reviewed a CFPB-proposed rule to improve consumers' rights to access and transfer their financial information.
The National Credit Union Association adopted amendments to regulations on indirect lending and leasing arrangements to members, "the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans."
CFPB Director Rohit Chopra previewed two rule proposals aimed at preventing the misuse of information collected by data brokers. The CFPB plans to release the new rules for public comment in 2024.