The federal banking agencies are working to reduce excessive supervisory burdens through automation and shared data submission, Consumer Financial Protection Bureau Director Kathy Kraninger said today at the ABA Regulatory Compliance Conference in New Orleans.
The Consumer Financial Protection Bureau today announced that it will change its policy on civil investigative demands to improve transparency.
Rep. Blaine Luetkemeyer (R-Mo.) today introduced a bill that would require federal regulatory agencies when issuing guidance documents to clearly state that those documents are not legally binding.
The federal banking agencies are issuing a revised policy on interagency cooperation in enforcement action that reflects present-day practice at the respective agencies.
In a comment letter to the Consumer Financial Protection Bureau today — the third of 12 the association will submit as part of the bureau’s ongoing feedback initiative — ABA called on the bureau to seek resolution of regulatory violations and compliance management weakness through the supervisory process rather than rushing to enforcement actions.
Consumer Financial Protection Bureau Acting Director Mick Mulvaney today echoed his previous comments that the CFPB will no longer “push the envelope” with respect to enforcement actions, adding that instead, he envisions a supervisory body that is “mild” but “certain.”
As anticipated, the Consumer Financial Protection Bureau today issued a request for information seeking feedback from the public on its enforcement processes.
The Consumer Financial Protection Bureau will remove day-to-day oversight and enforcement authority from its Office of Fair Lending and Equal Opportunity, according to reports today.
The Consumer Financial Protection Bureau today issued a request for information seeking feedback from the public on administrative adjudications for contested matters that were not resolved by consent order.
The Consumer Financial Protection Bureau today issued a request for information seeking feedback from the public on its processes related to civil investigative demands, which are issued during enforcement actions.