The FDIC today took action to modify its approach to insured depository institution (IDI) resolution planning. The purpose of this action is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to (1) resolve a large bank through a weekend sale or (2) operate the institution for a short period of time while rapidly marketing the institution.
The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved the merger of Discover Bank, Greenwood, Delaware, into Capital One, National Association, McLean, Virginia.
Collections executives must navigate an increasingly complex world where debt settlement and debt resolution are evolving to meet the demands of digital-savvy consumers. The traditional methods are making way for innovative solutions, including partnerships with debt settlement companies and the integration of financial apps as powerful collections channels. Moreover, unpredictable changes in federal and state regulations will demand adaptability and foresight from industry leaders. In this article, we will delve into the top ten predictions that will shape the future of the collections industry, equipping executives with the insights needed to maintain a competitive edge. Read about other trends here.
It was reported last night that the CFPB had laid off about 90% of its staff. This came on the heels of the CFPB providing each of its employees with its 2025 Supervisory and Enforcement Priorities which calls for a much narrower mission for the CFPB than under former Director Chopra.
The Consumer Financial Protection Bureau (CFPB or Bureau) is undergoing significant changes as the Trump administration implements sweeping layoffs just days after revising the Bureau’s regulatory priorities. According to reports, approximately 1,400-1,500 employees have received reduction-in-force notices, leaving the CFPB with just over 200 personnel to carry out its regulatory activities. This drastic reduction raises critical questions about the agency’s ability to effectively focus on its newly outlined priorities for 2025.
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