In a letter to the CFPB, the American Bankers Association warned that shifting the liability for fraudulent payments on peer-to-peer instant payment systems to institutions will likely have negative consequences.
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A custodial bank settled CFPB charges for (i) applying for lines of credit and opening deposit accounts on behalf of customers without their consent, (ii) obtaining consumer reports with personal information without justification, and (iii) pressuring employees into selling products to customers to meet predetermined sales goals.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the FDIC adopted amendments to the Community Reinvestment Act regulations in response to recent changes to Regulation C.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the FDIC proposed amendments to their Community Reinvestment Act regulations in response to recent changes to Regulation C.
Representative Garland "Andy" Barr (R-KY) introduced a bill to authorize the Consumer Financial Protection Bureau to assess whether insured depository institutions are compliant with the Military Lending Act.