Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast
Curious about how financial institutions, their service providers, and their federal regulators are using and overseeing machine learning and other AI tools? A new GAO report published on May 19th (the “Report”) provides a...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
March 18, 2025 - The Federal Reserve Bank of New York released the February 2025 Business Leaders Survey. March 18, 2025 - The Federal Deposit Insurance Corporation released the national rates and rate caps as of March...more
March 12, 2025 - The U.S. Committee on Banking, Housing and Urban Affairs held a hearing entitled “Housing Roadblocks: Paving a New Way to Address Affordability.” March 12, 2025- FINRA announced it is launching a broad...more
March 3, 2025 - The Treasury Department will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, and will not enforce any penalties...more
February 27, 2025- The Division of Corporation Finance is providing its views on “meme coins” to provide greater clarity on the application of the federal securities laws to crypto assets....more
January 16, 2025- The U.S. Committee on Banking, Housing and Urban Affairs held a hearing on the nomination of Mr. Eric Scott Turner, to be Secretary, U.S. Department of Housing and Urban Development....more
December 4, 2024- The U.S. House Committee on Financial Services held a hearing entitled “Innovation Revolution: How Technology is Shaping the Future of Finance.”...more
On November 21, the CFPB issued its final rule defining larger participants in the digital consumer payment applications market. The rule does not impose new substantive consumer protection requirements, but it does subject...more
October 15, 2024 - The Federal Reserve Board released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window. The minutes cover the...more
September 19, 2024- The Federal Reserve Bank of New York’s Open Market Trading Desk issued a statement announcing it intends to conduct a small value term repo operation with Primary Dealers....more
August 27, 2024 - The Federal Reserve Board released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window....more
August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more
A group of federal agencies have finalized reconsideration of value (ROV) guidance for residential real estate valuations. The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB),...more
On June 6, 2024 federal regulators published a final rule addressing Quality Control Standards for Automated Valuation Models. This was a collaborative rulemaking effort that included regulators from the Office of the...more
June 25, 2024- The Federal Reserve Board published a working paper entitled, “Sexual Orientation and Financial Well-Being in the United States.” June 25, 2024- Federal Reserve Board Governor Lisa D. Cook gave a speech...more
June 17, 2024 - The U.S. Department of the Treasury today announced that the United States has provided formal notice to the Russian Federation to confirm the suspension of the operation of Paragraph 4 of Article 1 and...more
Bipartisan, Bicameral Congressional Review Act resolution addressing Securities and Exchange Commission Staff Accounting Bulletin 121 Introduced- A resolution invoking the Congressional Review Act was introduced to...more
January 22, 2024- The Federal Reserve Board announced that it will extend until May 12, 2024, the comment period on its interchange fee proposal. January 22, 2024- The Federal Reserve Board announced five new members...more
January 18, 2024- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "National Security Challenges: Outpacing China in Emerging Technology."...more
January 17, 2024- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) led a letter to the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of...more
December 14, 2023 - FSOC Issues Annual Report- The Financial Stability Oversight Council released its 2023 annual report reviewing financial market developments, describing potential emerging threats to U.S. financial...more
October 12, 2023- The Consumer Financial Protection Bureau and Justice Department issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of...more
Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more
August 30, 2023- The Federal Reserve Board published a working paper entitled, "FinTech and Banks: Strategic Partnerships That Circumvent State Usury Laws." August 30, 2023- The Federal Reserve Board published a...more