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.
The Consumer Financial Protection Bureau’s prevailing governing philosophy of “pushing the envelope” in the name of enforcing consumer protection laws will shift under the bureau’s new leadership, Acting Director Mick Mulvaney said today in a memo to CFPB staff.
The Justice Department has revoked prior guidance on enforcement of federal marijuana laws in states where the drug has been legalized, Attorney General Jeff Sessions said today in a memo to federal prosecutors.
The FDIC today issued revised guidelines to expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeal processes.