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Today, the Consumer Financial Protection Bureau (CFPB) took action to permanently ban Student Loan Pro and Judith Noh, its owner, from offering or providing consumer financial products. The CFPB alleges that Student Loan Pro and Noh violated federal law by charging borrowers upfront fees to file paperwork on their behalf to access free debt-relief programs available to consumers with federal student loans.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and state financial regulators (collectively, the agencies), today issued a statement to provide institutions supervised by the agencies examples of risk management and other practices that can be effective in identifying, preventing, and responding to elder financial exploitation.

The Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Federal Reserve Bank of Richmond (FRB-Richmond), and Community Development Network of Maryland (CDN) will host a virtual roundtable for Community Development Financial Institutions (CDFIs) and banks serving communities and individuals in the state of Maryland. The purpose of the event is to explore and expand collaboration opportunities between banks and CDFIs.

Today, the Federal Communications Commission’sPublic Safety and Homeland Security Bureau announced the selection of UL LLC (ULSolutions) to serve as both the Lead Administrator and a Cybersecurity Label Administrator(CLA) of the agency’s voluntary cybersecurity labeling program for wireless consumerInternet of Things (IoT) products.

The CFPB will hold two virtual sessions later this month to answer questions about its Nonbank Enforcement Action Registry rule. The rule, issued in June 2024, will require certain nonbank entities to register certain covered administrative or court orders, and certain nonbank entities to comply with ongoing attestation requirements on the entity’s compliance with such orders.