Tag Archives: Examinations

CFTC Announces 2019 Examination Priorities for the First Time

On February 12, 2019, for the first time in its history, the Commodity Futures Trading Commission (“CFTC”) announced the release of 2019 examination priorities for each of its regulatory Divisions.  CFTC Chairman J. Christopher Giancarlo stated that “[t]his first-ever publication of division examination priorities is in line with Project KISS and other agency initiatives to … Continue Reading

CFPB Reports and Acts on Complaints about Student Loan Servicer Handling of Public Service Loan Forgiveness Program

On June 22, 2017, the CFPB announced a series of actions based on consumer complaints it has received about the manner in which student loan servicers handle the Public Service Loan Forgiveness (“PSLF”) program. PSLF is a federal student loan forgiveness program that provides borrowers in public service jobs, such as teachers, nurses, first responders, … Continue Reading

CFPB Announces Fair Lending Priorities in Fifth Annual Fair Lending Report

On April 15, 2017, the CFPB issued its fifth annual Fair Lending Report (“Report”). The Report describes the CFPB’s 2016 fair lending supervisory, enforcement, and rulemaking activities, interagency collaboration, and outreach to stakeholders. Most importantly, the Report outlines the CFPB’s fair lending priorities for 2017, indicating that the CFPB will increase its focus on redlining, … Continue Reading

OCC Supplements Guidance on Third Party Oversight; Emphasizes Oversight of Lending Relationships

The Office of the Comptroller of the Currency (the “OCC”) has released supplemental examination procedures on third party risk management.  The procedures apply to national banks and federal savings associations of all sizes.  They supplement OCC Bulletin 2013-29, which governs the risk management frameworks maintained by OCC-regulated banks in establishing, monitoring and concluding third party … Continue Reading

FDIC Approves Extended Exam Cycles for Small Banks

Yesterday, the Federal banking agencies issued final rules that permanently extend the examination cycle, from 12 months to 18 months, for well-capitalized and well-managed banks, savings associations, and Federal agencies and branches of foreign banks with less than $1.0 billion in total assets. The final rules, which implement a Congressional mandate under a 2015 statute, … Continue Reading

CFPB Announces Updated Examination Procedures for Military Lending Act Compliance

Important changes to the regulatory and supervisory framework governing loans to service members and their families have recently come into effect.  On October 3, 2016, Department of Defense (“DoD”) revisions to its Military Lending Act (“MLA”) rule became effective for most types of credit products covered by the rule (the revised rule will go into effect for credit … Continue Reading
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