The Consumer Financial Protection Bureau is expected to issue a notice of proposed rulemaking this spring to address a number of issues related to debt collection, including communication practices and consumer disclosures, according to its annual report to Congress on the Fair Debt Collection Practices Act released today.
With the future of Libor uncertain beyond 2021, the FDIC’s Winter 2018 Supervisory Highlights provides an overview of steps for banks to take to help transition to an alternative reference rate.
ABA today urged the Consumer Financial Protection Bureau to extend the compliance date for all provisions of its final rule governing short-term, small-dollar loans.
Responding to a request for feedback on consumer privacy legislation from Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), ABA today emphasized banks’ strong privacy and data security framework under the Gramm-Leach-Bliley Act and called for Congress to take an approach that ensures consistent privacy protections while promoting marketplace efficiency.
With uncertainty rising around the United Kingdom’s pending withdrawal from the European Union, five federal regulatory agencies today issued an interim final rule to allow qualifying swaps to be transferred from a UK entity to an affiliate in the EU or the U.S. without triggering new requirements.
The FDIC today issued a final rule to rescind Part 350 from the Code of Federal Regulations, removing an annual disclosure requirement that was duplicated by data publicly available on the FDIC’s website.
With the Current Expected Credit Loss standard for loan loss accounting coming into effect for many banks — and the vast majority of bank assets — on Jan. 1, 2020, where are bank CFOs and managers in the process of implementing CECL, and what challenges are they seeing?
As the House Financial Services Committee today held a hearing on the financial crime, the American Bankers Association joined eight other financial trade organizations in a letter to committee leaders highlighting the need for a national beneficial ownership registry.
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, deposits, mortgage servicing and remittances.
As financial regulators continue their review of the Community Reinvestment Act regulations, Federal Reserve Governor Lael Brainard today said that they are considering making adjustments to the assessment area definition that would allow banks to receive CRA consideration for community developments in a more expansive area.