The Consumer Financial Protection Bureau CFPB

CFPB Releases Further Research on the Impact of Student Debt on Older Americans

Earlier this year, the CFPB released research on how student loan debt is impacting older Americans. This month they have released additional, state- level data. This new information shows that the number of older borrowers in every state has increased by at least 20% since 2012, the total outstanding student loan debt of borrowers over the age of 60 increased by more than 50%, and that in all but 5 states the number of older borrowers in delinquency has increased.

Demographical information regarding who is struggling with student loan debt is useful for understanding the scope of the problem in the country, and working to develop solutions. The CFPB has published recommendations and tips for older borrowers struggling to make their loan payments.


























































































































New Rule Proposed to Extend Certain Capital Rule Transitions
































This month, federal banking agencies proposed a new rule that would extend the existing transitional capital treatment for certain regulatory capital deductions and risk weights. The extension would apply to banking organizations that are not subject to the agencies’ advanced approaches capital rules.
































This new rule will hopefully reduce regulatory burden, particularly for smaller banks. That proposal would simplify the capital rules’ treatment of mortgage servicing assets and other items.
































Banking organizations that are not subject to the advanced approaches capital rules are generally those with less than $250 billion in total consolidated assets and less than $10 billion in total foreign exposure. Firms that are subject to the advanced approaches rules would not be affected by this proposal and would remain subject to the fully phased-in requirements for these exposures.
































The FDIC is accepting comments on this proposal for 30 days after publication in the Federal Register.
































































































































































Department of Justice
































































DOJ No Longer Seeking Information on Protest Website Visitors
































For now, The DOJ has abandoned its efforts to collect the personal information of all visitors to a website that helped to organize an anti-Trump protest after the inauguration. The DOJ had asked the website’s host, Dreamhost, to provide all personal information, including IP addresses, of website patrons. Dreamhost refused, mainly due the large scope of the request.
































             The DOJ has taken Dreamhost’s opposition into account, and narrowed down the types of information it is requesting. The DOJ says that any information Dreamhost provides will be placed under seal with the court.
































































Office of the Comptroller of the Currency
































OCC Issues New Guidance on Community Revitalization
































The Office of the Comptroller of the Currency issued new guidance to prompt community revitalization through higher-loan-to-value mortgage lending in targeted areas.
































The bulletin expounds existing regulations and sets out principles for managing risks associated with the origination of certain residential mortgage loans where the loan-to-value ratio at origination exceeds 100 percent.
































According to the OCC, Banks can support revitalization efforts by offering mortgage products for owner-occupied residential properties in communities targeted by governmental entities for revitalization.
































This bulletin applies to national banks and federal savings associations that establish programs for originating owner-occupied residential mortgage loans with loan-to-value ratios that exceed 100 percent at origination in communities targeted for revitalization.
































































Securities and Exchange Comission
































































SEC Announces New Insider Trading Charges Against Seven  
































The Securities and Exchange Commission announced insider trading charges against seven people who generated millions of dollars in profits by trading confidential information about dozens of impending mergers and acquisitions. 
































Data analysis allowed the SEC’s enforcement staff to uncover the illicit trading despite the alleged use of evasive tactics like shell companies, code words, and an encrypted, self-destructing messaging application to evade detection.