Jun 24, 2020 | Federal Regulation, News
CFPB Launches Pilot Advisory Opinion Program Last week, the Consumer Financial Protection Bureau launched a pilot advisory opinion (AO) program to better assess regulatory uncertainty with current regulations. The proposed program adds to previous efforts to improve...
Jun 5, 2020 | Banks & Credit Unions, Federal Regulation, News
Acting OCC Head Calls for Ending Coronavirus-Related Shutdowns to Boost Economy Brian Brooks, who became acting Comptroller of the Currency after former Comptroller Joseph Otting stepped down last week, has called for states to end the shutdown orders that were put in...
May 27, 2020 | Federal Regulation
Otting Steps Down as Head of OCC Comptroller of the Currency Joseph M. Otting announced that he will resign from office at the end of this week, just over halfway through his five-year term. First Deputy and Chief Operating Officer Brian P. Brooks will become Acting...
May 25, 2020 | Federal Regulation, News
Financial Regulators Issue Guidance for Offering Responsible Small-Dollar Loans Last week, four federal financial regulatory agencies released guidance titled “Interagency Lending Principles for Offering Responsible Small-Dollar Loans,” encouraging credit unions,...
May 20, 2020 | Federal Regulation, News
CFPB Outlines Billing Error Responsibilities of Financial Firms During Pandemic Last week, the Consumer Financial Protection Bureau (CFPB) released a statement and FAQs concerning the obligations of financial firms during the coronavirus pandemic. Specifically, the...
May 13, 2020 | Congressional Legislation, Federal Regulation, News
Senate Democrats Urge CFPB to Start Over on Payday Rule United States Senator Sherrod Brown (D-Ohio) was recently joined by 11 of his Senate colleagues in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger, pressing her and the...
