CFPB moves to scrutinize banks’ overdraft programs
As part of a pilot supervision effort, the CFPB has requested information on overdraft and non-sufficient funds practices from “over...
Compliance and Risk
Basel Committee finalizes principles for managing climate-related financial risks
The Basel Committee on Banking Supervision yesterday issued a final set of principles in its consultation on the effective management...
Payment messaging upgrade promises benefits
Enriched data from ISO 20022 is expected to spur new payment-related products and more insightful analysis into customer payment patterns
CFPB seeks feedback on consumers’ ability to obtain information from large institutions
The CFPB is seeking public feedback “related to relationship banking and how consumers can assert the right to obtain timely...
ABA opposes overdraft bill ahead of committee markup
Ahead of a markup scheduled to begin tomorrow in the House Financial Services Committee, ABA sent a memo to lawmakers...
FinCEN seeks feedback on plan to issue no-action letters
As part of its implementation of the Anti-Money Laundering Act of 2020, the Financial Crimes Enforcement Network on Friday sought...
ABA calls for ‘flexible, iterative’ approach to FDIC climate risk management
While expressing overall support for the FDIC’s Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions, ABA...
A new inflation age, part one: commodities
Ramping up production of these essential components is complex and requires billions of dollars in investment and years to come...
ABA, CBA express support for CFPB’s nonbank supervision, opposition to disclosure of CSI
The American Bankers Association and the Consumer Bankers Association this week expressed support for the Consumer Financial Protection Bureau’s recent...
CFPB to lenders: Algorithms, AI used in credit decisions must be explainable
In a new circular, the CFPB said that under the Equal Credit Opportunity Act and Regulation B, creditors are not...
