Enforcement

The Consumer Financial Protection Bureau on Wednesday issued an advisory for banks and credit unions on how to prevent and respond to elder abuse.

Military families and service members are submitting debt collection complaints at twice the rate of other consumers, the Consumer Financial Protection Bureau said Tuesday in a report.

The Consumer Financial Protection Bureau claimed victory Friday in resolving a long-standing lawsuit against the bankrupt Nevada debt-relief company Morgan Drexen, which preemptively sued the agency in 2013.

Lawmakers sharply criticized the Federal Deposit Insurance Corp. on Wednesday over a watchdog report that said the agency used abusive tactics to stop banks from offering refund anticipation loans.

The chairmen of the House and Senate banking committees appear to agree that banks that hold higher capital should get a significant break on other regulatory requirements. But the odds of enacting a bill this year remain long.

The Federal Reserve recently announced that it had released five community banks from enforcement actions.

MasterCard received a finding of violation from the Treasury for failing to report accounts held by two Iranian banks that were placed on a list in 2007 that prohibits U.S. entities from dealing with them.

The Consumer Financial Protection Bureau on Tuesday asked a federal court to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

The Federal Housing Administration said Tuesday that it has revised its proposed lender certification requirements in an effort to provide more clarity and reassure lenders they won't be penalized for minor loan defects or mistakes.

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.