NewsWatch Today

ICBA called on the Consumer Financial Protection Bureau to limit the regulatory burden of its pending rulemaking to establish standards for sharing consumer financial data.

ICBA continued its campaign opposing changes to the Community Development Financial Institution certification application during a meeting with House Financial Services Committee Ranking Member Maxine Waters (D-Calif.).

The Consumer Financial Protection Bureau was incorrect in determining that the Truth in Lending Act does not preempt a recently enacted New York State disclosure law, ICBA said in a new comment letter.

ICBA and other groups called on the Consumer Financial Protection Bureau to comply with the Small Business Regulatory Enforcement Fairness Act as it considers reducing or eliminating the safe harbor fee that credit card issuers may charge to avoid scrutiny of their fees as unreasonable.

Senate Banking Committee members Mark Warner (D-Va.) and Mike Crapo (R-Idaho) encouraged the Treasury Department to consider all comments responding to its proposal to revise Community Development Financial Institution certification application and reporting requirements.

Fannie Mae and Freddie Mac will reduce their upfront fee for commingled securities to 9.375 basis points after announcing a 50-point fee last year, the Federal Housing Finance Agency announced.

The Federal Reserve is “determined to stay the course” to address inflation and restore price stability, Fed Vice Chair Lael Brainard said.

The Consumer Financial Protection Bureau issued a circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.

The Financial Crimes Enforcement Network today is set to issue a final rule to reflect annual inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990.

The Consumer Financial Protection Bureau released updated mortgage servicing examination procedures for use by CFPB examiners.

The OCC issued a bulletin on its adjustment to the maximum amount of each civil money penalty within its jurisdiction.

ICBA updated its “Advocacy in Action” government relations dashboard for the first quarter with the latest community banking advocacy successes and priorities.