On January 18, 2024, the CFPB proposed an extensive (211-page) rule on overdraft practices applicable to Financial Institutions (FIs) of $10 billion or more in assets (so called “very large FIs”). The proposed rule would not...more
1/31/2024
/ Buy Now Pay Later (BNPL) ,
CARD Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Electronic Fund Transfer Act ,
Financial Institutions ,
Overdraft Fees ,
Popular ,
Proposed Rules ,
Regulation Z ,
Regulatory Authority ,
Truth in Lending Act (TILA)
Tristan v. Bank of America, N.A., Case No. 8:22-cv-1183-CDCA (June 8, 2022). There is a groundswell of litigation arising over the lack of fraud warning or bank reimbursement protection for customers utilizing the Zelle...more
The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more
9/14/2021
/ Cease and Desist Orders ,
Consent Order ,
Credit Unions ,
Enforcement Actions ,
Financial Institutions ,
Fines ,
Internal Controls ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
OCC ,
Regulatory Oversight ,
Wells Fargo