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Banking associations comment on Remittance Rule
On June 19, 2019, several banking associations submitted a joint comment in response to the Consumer Financial Protection Bureau’s (CFPB) request for information (RFI) regarding its planned...
ABA responds to CFPB’s RFI on adopted regulations, new rulemaking
In response to the Consumer Financial Protection Bureau’s Request for Information (RFI), the American Bankers Association has submitted comments to the CFPB concerning the Bureau’s...
President intends to nominate OMB Assistant Director Kraninger to lead CFPB
The White House has officially announced that President Donald J. Trump intends to nominate Kathy Kraninger to serve as the next director of the Consumer Financial Protection Bureau. As the associate...
Fed approves rule imposing single-counterparty credit limits
On June 14, 2018, the Federal Reserve Board approved a rule to establish single-counterparty credit limits restricting overall credit exposures between very large banks. The rule implements section...
CFPB settles with Security Group, Inc. for alleged CFPA, FCRA violations
On June 13, 2018, the CFPB entered into a settlement with consumer lending entities Security Group Inc., a South Carolina corporation, and its subsidiaries, Security Finance Corporation of...