WASHINGTON—The CFPB has hit Wells Fargo with a $1-billion fine — a record for the agency — in punishment for the banks’ actions in its mortgage and auto loan businesses.
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WASHINGTON—NCUA is considering an appeal to the U.S. District Court for the District of Columbia’s ruling that vacated two provisions of the agency’s field of membership rule.
WASHINGTON—During a hearing this week, the Senate Commerce Committee sought input on possible legislative, regulatory and legal solutions to protect consumers from abusive robocalls.
WASHINGTON—The latest release of the Federal Reserve Beige Book shows that economic activity expanded across all 12 Fed districts in March and through early April.
WASHINGTON—House Financial Services Subcommittee Chairman Sean Duffy (R-WI), along with Rep. Ed Perlmutter (D-CO), introduced legislation that would give the CFPB specific procedures to follow when the Bureau issues guidance.
FORT COLLINS, Colo.—The $2.2-billion Public Service Credit Union of Colorado has agreed to a sponsorship deal with Colorado State University and Learfield Sports for $37.7 million over 15 years that includes putting the CU’s new name on the school’s football stadium.
HOBOKEN, N.J.–It’s April 20, better known as 4/20 or the official marijuana holiday, with one theory positing the date was selected because 420 is code among police officers for “marijuana smoking in progress” and another suggesting it stems from a group of high schoolers who used to meet at 4:20 to smoke pot.
WASHINGTON—Sens. Tim Scott (R-SC), Tammy Baldwin (D-WI), Mike Rounds (R-SD) and Joe Manchin (D-WV) have introduced a bill that would exempt persons regulated by a state insurance regulator from CFPB authority.
ALEXANDRIA, Va.—The NCUA board Thursday voted 2-0 to approve a final rule on capital planning and stress testing that provides regulatory relief for federally insured CUs with assets of $10 billion or greater.
ANAHEIM, Calif.–Just how much is a CUSO worth? It’s an inexact science, according to one person, but there are guidelines that can be used to arrive at a number.