Compliance in 2019: What to Expect and Where to Focus
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
Browsing: UDAAP
CFPB Updates Rulemaking Agenda for Fall 2018
The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.
Mulvaney: CFPB to Provide Clarity on UDAAP Standard
The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers “abusive” under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today.
Fed Launches Consumer Compliance Supervision Bulletin
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.
The Weeble Wobble Bureau
In 2017, the Consumer Financial Protection Bureau suffered several setbacks in court, but each time, the agency bobbed back up and refused to temper its enforcement strategy.
Treasury Department Issues Sweeping Regulatory Reform Recommendations
The Treasury Department tonight issued a 150-page report making dozens of recommendations for how Congress and regulatory agencies can streamline bank regulation in a way that promotes economic growth.
ABA Expresses Concern about Using Alternative Data for Credit Scoring
Banks are generally open to the idea of using alternative data sources — such as mobile phone bills and rent payments — to help consumers establish a credit history, but concerns about compliance, data integrity and other risks stand in the way, ABA said today in a comment letter to the Consumer Financial Protection Bureau.
Financial Choice Act Clears House Committee
The House Financial Services Committee today voted to advance the Financial Choice Act, Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.
Rep. Luetkemeyer Introduces CLEARR Act
Rep. Blaine Luetkemeyer (R-Mo.) yesterday introduced the ABA-advocated CLEARR Act (H.R. 2133), which would provide relief from certain rules and regulations for community banks.
House Committee Holds Hearing on Choice Act
The House Financial Services Committee today held a hearing on the Financial Choice Act, Committee Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.