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Oregon Banks Settles with FDIC for Repeat RESPA Violations

The FDIC recently announced a consent order with an Oregon regional bank for violations of Section 8 of RESPA, the FTC Act, and the FRCA, resulting in a civil monetary penalty totaling $425,000. This is the second such civil penalty on the same bank for similar RESPA violation.
United States Into Practice Advisory Opinion Federal Deposit Insurance Company Fair Credit Reporting Act Real Estate Settlement Procedures Act

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CFPB New Updated Rulemaking on Data Access and Portability

CFPB released an outline of proposed measures related to the Bureauโ€™s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers the rights over their personal financial data. The outline discusses proposed regulations that would require covered data providers.
Bureau Dodd Frank Section Dodd Frank Section Into Practice Consumer Finance Todd Frank Ection 1033

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