BCFP Issues Final Rule on Procedures for Disclosing Records and Information
On September 12, 2018, the BCFP published a final rule to modify its procedures for disclosing certain records and information under federal law and in... Read More
Federal Regulatory Developments
BCFP Introduces New Online Regulations Platform
The BCFP has released “Interactive Bureau Regulations,” a new version of its online regulations platform. The new platform replaces “eRegulations” and is meant to make... Read More
FDIC Encourages Banks to Help Customers Affected by Hurricane Florence
The FDIC recently issued a Financial Institution Letter encouraging depository institutions to consider all reasonable and prudent steps to help customers in communities affected by... Read More
Federal Agencies Reaffirm Role of Supervisory Guidance
The FRB, BCFP, FDIC, NCUA, and OCC issued a statement confirming that supervisory guidance does not have the force and effect of law and that... Read More
Debt Collectors Agree to Pay Up to $3.46 Million to Settle UDAP and FDCPA Claims with FTC
The FTC and a network of debt collection companies, including three of their officers, have agreed to the entry of stipulated orders imposing a judgment... Read More
BCFP Supervisory Highlights
The BCFP recently released its latest Supervisory Highlights, Issue 17, Summer 2018 addressing issues uncovered from supervisory examinations generally completed between December 2017 and May... Read More
BCFP Appoints New Advisory Committee Members
The BCFP recently announced the appointment of new committee members to the Consumer Advisory Board, Community Bank Advisory Council, and the Credit Union Advisory Council,... Read More
FTC Settles with Phone Manufacturer for Deceptive Data Security Practices
The Federal Trade Commission (FTC) gave final approval to a settlement with a Florida-based mobile phone manufacturer over claims that the company deceived consumers about... Read More
FTC Announces 2nd Hearing on Competition and Consumer Protection in the 21st Century
The FTC is holding a series of public hearings during the fall and winter of 2018 “to consider whether broad based changes in the economy,... Read More
Freddie Mac CEO to Step Down
Freddie Mac CEO Donald Layton is stepping down from his position in the second half of 2019. He has been the chief executive of the... Read More
Banking Agencies Amend and Invite Comment on Liquidity Coverage Ratio Rule
The FRB, OCC, and the FDIC recently jointly issued and invited comment on an interim final rule that amends the agencies’ liquidity coverage ratio rule... Read More
NCUA Issues Examination Guidance for Bank Secrecy Act Customer Due Diligence and Beneficial Ownership Rule Compliance
The National Credit Union Administration recently issued a supervisory letter providing federally insured credit unions with the examination expectations that will be used by NCUA... Read More
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