Becky Nelson – Page 3

CFPB updates remittance rules

Community banks and other financial service providers that offer remittance transfers will be subject to new rules under Regulation E, the Electronic Funds Transfer Act, which go into effect in January 2013.

Republicans intend to file challenge

Thirty-nine Republican senators signed a Feb. 3 letter to President Obama, stating their intent to file an amicus brief challenging as unconstitutional Obama’s recess appointments to the Consumer Financial Protection Bureau and the National Labor Relations Board

Constitutional questions add to uncertainty

Despite a memo from the Justice Department defending the President’s recess appointment of Richard Cordray, Obama’s actions have raised significant constitutional issues and, in turn, more uncertainty for the banking industry.

CFPB creates Office of Minority and Women Inclusion

The Consumer Financial Protection Bureau had a fitting announcement for Martin Luther King, Jr. Day: the creation of the Bureau’s Office of Minority and Women Inclusion.

CFPB launches lender investigation; publishes new exam guidelines

The target of the Consumer Financial Protection Bureau’s first nonbank investigation is PHH Corp., one of the nation’s largest nonbank mortgage lenders.

CFPB kicks off nonbank supervision program, at last

Five-plus months after the official opening of the Consumer Financial Protection Bureau, the bureau finally got to kick off its nonbank supervision program.

Recess appointment puts Cordray in charge

President Obama made a recess appointment on Jan. 4, announcing that Richard Cordray will lead the Consumer Financial Protection Bureau.

President Won’t Take No for Answer on Cordray

Will President Obama finally appoint Richard Cordray as director of the Consumer Financial Protection Bureau during the next congressional recess, which will begin by Jan. 3?

Take a look at CFPB credit card disclosure

Community banks that offer credit cards may want to check out the latest information coming from the Consumer Financial Protection Bureau.

CFPB’s impact on agricultural lending does not extend to Farm Credit System

Agricultural bankers will likely find themselves subject to additional reporting and disclosure requirements, courtesy of the Dodd-Frank Act and the Consumer Financial Protection Bureau the law established. But their biggest competition in rural America will not.