The members of the Federal Financial Institutions Examination Council (FFIEC) announced an update on its examination modernization project that was undertaken following the review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
Although the Consumer Financial Protection Bureau is not expected to take up consumer protection policy issues associated with overdraft programs until later this year, the bureau has taken action against a large Alabama-based bank for violating federal rules prohibiting charging overdraft fees to consumers who have not opted in to overdraft protection programs.
A provision added to the National Defense Authorization Act would delay implementation of changes to certain rules under the Military Lending Act, until a report on the effects of those changes on servicemembers is prepared.
The judge overseeing matters related to the Target breach did not rule Monday on whether to approve the motion filed by financial institutions to block part of the $19 million settlement recently reached between by Target and MasterCard.
The Targeting Rogue and Opaque Letters Act would not address core problems presented by patent assertion entities, CUNA and other financial trade organizations told U.S. House members today before the bill is marked up by the House Energy and Commerce committee.