…and more insights from ABA’s Compliance Center Inbox in the next issue of the ABA Banking Journal.
Browsing: Military Lending Act
The Consumer Financial Protection Bureau today called on Congress to grant the bureau clear authority to supervise for Military Lending Act Compliance.
The Federal Reserve has launched a new Consumer Compliance Supervision Bulletin that will share information about examiners’ observations and other developments related to consumer protection.
Uncertainty around how bank deposits will react to a rising interest rate environment was among several key risk themes identified by the OCC in its Semiannual Risk Perspective report released today.
In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.
The Department of Defense has released changes to its 2016 interpretive rule clarifying certain provisions of the Military Lending Act regulation.
The Department of Defense last week denied a request by ABA and several financial trade groups to postpone the effective date of the amended Military Lending Act rules for credit card accounts.
The OCC is focusing on credit risk, compliance risk and strategic risk as its top supervisory priorities at community and midsize banks, according to the agency’s Semiannual Risk Perspective report released today.
ABA and six other financial trade groups wrote to the Department of Defense on Friday urging the department to take additional steps to clarify inconsistencies and confusion that still surround the amended Military Lending Act rules and a subsequent interpretive rule issued by DOD.