The federal bank regulatory agencies today announced their fourth notice requesting public comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act requires the agencies to review their regulations at least once every 10 years to identify outdated, unnecessary, or unduly burdensome regulatory requirements for their supervised institutions.
Our most recent Recovery Management Network (RMN) call was the most dynamic session I’ve experienced to date. It opened with a live demo from Bazzuka AI, highlighting tools specifically designed to enhance collection operations—supporting live calls, automating text messages, and streamlining email communications.
Recently, a complaint was filed against loanDepot.Com, LLC (“loanDepot”) in the U.S. District Court for the District of Maryland alleging violations of the Truth in Lending Act (TILA)/Regulation Z loan originator compensation rule (Rule), which applies to closed-end consumer credit transactions secured by a dwelling.
The enactment of the GENIUS Act is a monumental and historic accomplishment that will transform the financial services industry. The OCC is prepared to work swiftly to implement this landmark legislation that expands the authority of the OCC to include nonbank payment stablecoin issuers.
Debt settlement agencies serve as advisors to consumers—often those with $10,000 or more in unsecured debt—negotiating on their behalf to reach resolutions with multiple creditors. But for decades, the infrastructure supporting these negotiations has remained largely unchanged.
.jpg)
.jpg)