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Results 1 - 10 of 1886 |
Posted Date: Friday, May 10, 2024
To support third-party risk management efforts among community banks, the three federal banking agencies unveiled a comprehensive guide to help those institutions navigate the complexities associated with third-party relationships. The guide highlights a host of considerations institutions are encouraged to keep in mind during the third-party relationship lifecycle. Read on »
Posted Date: Friday, May 10, 2024
The Consumer Financial Protection Bureau fined Chime, a large nonbank financial institution, for failing to provide timely balance refunds to consumers who closed their accounts. The bureau reported many customers endured significant financial stress as a result of the refund delays, some of which spanned several weeks or even months. Read on »
Posted Date: Friday, May 10, 2024
Reiterating the two agencies’ continuing cooperation on consumer protection matters, the Federal Trade Commission and the Federal Communications Commission (FCC) signed a memorandum of understanding following the FCC’s recent decision to restore net neutrality. Read on »
Posted Date: Friday, May 10, 2024
Financial trade advocates joined together to detail their opposition to the treatment of digital assets under a policy enacted by the Securities and Exchange Commission more than two years ago. The four trade organizations called on Congress to do away with the policy in a recent comment letter.
Additionally, a recent hearing about the Consumer Financial Protection Bureau’s rulemaking activities on various fees served as an opportunity for one trade group to reiterate its strong opposition to what it contends to be the bureau’s politically motivated policy agenda.
Read about these industry developments and more in this roundup. Read on »
Posted Date: Tuesday, May 7, 2024
As data and cyber security issues continue to rise, hackers use every opportunity to compromise private consumer data, and affected companies are left to clean up the damage. A case out of U.S. District Court for the Eastern District of Pennsylvania may be a good indicator on how courts are approaching settlements for these incidents, including how much the attorneys are paid.
A judge reinstated the attorney fee award given in a class action suit after it was vacated by the Third Circuit Court of Appeals. The judge who reinstated the $3.2 million award had been tasked with re-considering its reasonableness. Read on »
Posted Date: Tuesday, May 7, 2024
While the real estate industry adapts to the structural changes coming its way, the Consumer Financial Protection Bureau’s Office of Research conducted laboratory experiments to investigate the effects of price complexity on market outcomes.
Results indicated consumers paid more when closing costs were split into sub-prices, and the more complex the pricing structure, the worse the buyers fared. Read on »
Posted Date: Tuesday, May 7, 2024
Federal regulators are constantly researching products, fees and policies to assess whether they align with current laws and regulations. Two agencies recently published reports that could be of interest to secondary market participants and consumers with health savings accounts.
Find out more about these studies, as well as other recent developments from regulatory agencies that may have evaded the major news headlines. Read on »
Posted Date: Friday, May 3, 2024
The Government Accountability Office’s (GAO) opinion on the Consumer Financial Protection Bureau’s financial statements and related internal controls found relevant materials reliable and controls effective.
It also provided an update on the 60 recommendations the GAO has made over the years to improve the bureau’s operations. Read on »
Posted Date: Tuesday, April 30, 2024
Federal regulatory agencies frequently seek feedback from industry stakeholders by forming advisory committees and advertising for comments on rulemaking activities. The Federal Deposit Insurance Corp. recently added representatives from multiple institutions to its advisory committee on community banking. Learn about these developments and more in this regulatory roundup. Read on »
Posted Date: Tuesday, April 23, 2024
Federal regulators are constantly addressing issues facing financial institutions of all sizes. In this roundup, learn about recent developments and remarks pertaining to some of the largest banks in the world, as well as smaller, community-based institutions. Read on »
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