New CFPB Guidance Identifies Fee Practices That Constitute UDAAP Violations The CFPB has issued new guidance about what it pejoratively characterizes as “junk fee” practices by banks that the agency believes are likely to...more
10/31/2022
/ Banking Sector ,
Clawbacks ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Cybersecurity ,
Deposit Insurance ,
FDIC ,
FFIEC ,
Personal Data ,
Ransomware ,
Securities and Exchange Commission (SEC) ,
UDAAP
Headlines -
..New FDIC Guidance Highlights Risks from Multiple NSF Fees for Re-presented Items
..Fed Provides Advice to Banks Engaging in Crypto-Asset-Related Activities
..Federal Banking Agencies Propose Policy...more
8/31/2022
/ Banking Sector ,
Banks ,
Commercial Loans ,
Credit Cards ,
Cryptoassets ,
Data Security ,
FDIC ,
Financial Institutions ,
Loan Servicer ,
Overdraft Fees ,
UDAAP
Headlines -
..New Federal Guidance Issued on Customer Due Diligence and Risk Management
..Fed Proposes Rule to Mandate LIBOR-Replacement Benchmark Rates in Contracts
..CFPB Clarifies Permissible Purposes for Furnishing,...more
7/29/2022
/ Benchmarks ,
Brokered Deposits ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Cryptocurrency ,
Customer Due Diligence (CDD) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Guidance Update ,
Libor ,
Minority-Owned Businesses ,
New Guidance ,
Risk Management
Headlines -
..FDIC Proposes Substantial Increase in Deposit Insurance Assessment Rates
..Federal Reserve Releases New CECL Implementation Tool: Expected Losses
..Estimator OCC Report Highlights Risks Facing the Federal...more
6/29/2022
/ Accounting Standards ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Current Expected Credit Losses (CECL) ,
Deposit Insurance ,
Elder Issues ,
Exploitation ,
Families First Coronavirus Response Act (FFCRA) ,
FDIC ,
Federal Reserve ,
Financial Abuse ,
FinCEN ,
New Guidance ,
OCC ,
Risk Factors ,
Transaction Fees
FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more
4/29/2022
/ Banking Sector ,
Climate Change ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity Information Sharing Act (CISA) ,
Enforcement Actions ,
Fannie Mae ,
FDIC ,
FHFA ,
FinTech ,
Foreclosure ,
Freddie Mac ,
FTC Act ,
Moratorium ,
Mortgage Servicers ,
Public Comment ,
Risk Management ,
Russia ,
Section 5 ,
Transaction Fees
CFPB Announces Intention to Expand Enforcement Against Unfair Discrimination -
The CFPB has published an updated examination manual for evaluating unfair, deceptive, and abusive acts and practices (“UDAAPs”), which explains...more
3/31/2022
/ Bank Holding Company Act ,
Bank Merger Act ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Incident Reporting ,
Disclosure Requirements ,
Dodd-Frank ,
Enforcement Priorities ,
FDIC ,
Public Comment ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs) ,
UDAAP
CFPB Fines Mortgage Lender for Violating the RESPA Anti-Kickback Rule
The Consumer Financial Protection Bureau (“CFPB”) has taken enforcement action in the form of a consent order against a mortgage lender, including...more
2/28/2017
/ Anti-Kickback Statute ,
Bank Fraud ,
Banking Sector ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Executive Orders ,
FDIC ,
Internet Service Providers (ISPs) ,
Margin Requirements ,
New Guidance ,
RESPA ,
Statute of Limitations ,
Trustees
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. FDIC Approves Proposed Rule to Limit Incentive-Based Compensation Arrangements
2. Congress Considers...more