Finovate

MAY 6, 2024

FDIC and CFPB have issued multiple consent orders to banks, citing their BaaS relationships as the cause. regulators– the Board of Governors of the Federal Reserve System, the FDIC, and the OCC– have published a new third party risk management guide for community banks. Since late 2023, the U.S.

Regulations 52

Regulations Community Banks FDIC Due Diligence 52

FICO

JANUARY 13, 2020

The CFPB will issue its final debt collection rule in the fall of 2020. Forty-two years after the enactment of the Fair Debt Collections Practices Act, the CFPB proposed the first set of rules governing third-party debt collection activities. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

Authentication 52

Authentication AML Finance OCC 52

PYMNTS

MARCH 10, 2020

Chairwoman Waters highlighted the fact that the OCC has pointed to tens of thousands of cases requiring remediation for consumer abuse.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Accounts Office of the Comptroller of the Currency OCC 52

PYMNTS

AUGUST 1, 2018

The proposed changes include moving the collection and storage of small business lending data, required under the Dodd-Frank Act , from the Consumer Financial Protection Bureau (CFPB) to the Office of Financial Research (OFR). Suggestions included that the U.S.

Small Business 40

Small Business Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency CFPB 40

Clearly Payments

FEBRUARY 8, 2024

Consumer Financial Protection Bureau (CFPB): Established in response to the 2008 financial crisis, the CFPB is tasked with protecting consumers in the financial marketplace. Office of the Comptroller of the Currency (OCC): As an independent bureau within the U.S.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105

PYMNTS

SEPTEMBER 12, 2017

Although it was approved in final form by the CFPB in July – after a lengthy and contentious rulemaking process – Republican lawmakers vowed to strike down the law within 24 hours of its passage via the Congressional Review Act. Although the law is 20 years old, it had only been used once before 2017. According to L.A.

CFPB 47

CFPB Rules Breach Disputes 47

PYMNTS

APRIL 23, 2018

A one billion dollar fine has arrived on Wells Fargo’s doorstep as part of a “coordinated action” between the Consumer Finance Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC). As to the terms of the settlement: we have said all along that we will enforce the law. That is what we did here.”.

OCC 40

OCC Credit Cards CFPB Office of the Comptroller of the Currency 40

FICO

JANUARY 9, 2017

A little-known law will have big impact on regulation. The FDIC, Fed and OCC recently initiated the process for drafting new cybersecurity regulations for banks with assets exceeding $50 billion. Led by the CFPB, federal agencies have aggressively used the disparate impact legal doctrine in the lending arena. You are not alone.

Cybersecurity 78

Cybersecurity CFPB Regulatory Compliance Rules 78

FICO

FEBRUARY 23, 2017

OCC, FDIC, Federal Reserve, CFPB, FHFA and SEC) and report to the President within 120 days the extent to which current laws, regulations and oversight requirements, including those connected with the Dodd-Frank Act, help promote the six core principles. He has already nominated a new head of the SEC.

Federal Reserve 40

Federal Reserve OCC CFPB FDIC 40