On Tuesday, May 22nd, The Office of the Comptroller of the Currency (OCC) published its Semiannual Risk Perspective for Spring 2019. Highlights include: Credit quality is strong when measured by traditional performance metrics, but successive years of growth, incremental easing in underwriting, risk layering, and building credit concentrations result in accumulated risk in loan portfolios. Operational risk [...]
Last week, the CFPB issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information on the costs and benefits of reporting certain data points under HMDA and a Notice of Proposed Rulemaking (NPRM), wherein the proposal would raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under [...]
On April 29, 2019, the Department of Financial Services for the state of New York (NYFDS) formally announced the launch of the Consumer Protection and Financial Enforcement Division (CPFED) by appointing Katherine Lemire as its Executive Deputy Superintendent. According to the press release, the CPFED: “…is responsible for protecting and educating consumers and fighting consumer [...]
