Trade Groups Say CFPB Not Authorized to Regulate Customer Service
The Consumer Financial Protection Bureau’s initiative to improve customer service at large banks and credit unions rests on a shaky legal foundation, banking trade groups say.
Brooks Steps Down from OCC, Finalizes Lending Rule
The Office of the Comptroller of the Currency this morning finalized a rule to prevent large banks from limiting their lending activities to certain industries, just hours after Acting Comptroller of the Currency Brian Brooks said he was leaving the agency.
BofA Receives No-Action Letter for Consumer Loans
Bank of America will be able to offer small loans to customers under certain guidelines without facing enforcement actions from the Consumer Financial Protection Bureau.
