BCFP Supervisory Highlights

The BCFP recently released its latest Supervisory Highlights, Issue 17, Summer 2018 addressing issues uncovered from supervisory examinations generally completed between December 2017 and May 2018. The report shares recent supervisory observations in the areas of: automobile loan servicing; credit cards; debt collection; mortgage servicing; payday lending; and small business lending. Foreclosure News

FDIC Clarifies Supervisory Expectations for Abandoned Foreclosures

On March 2, 2016, the FDIC issued clarification of their supervisory expectations of financial institutions’ risk management policies concerning the discontinuation of foreclosure proceedings, commonly referred to as “abandoned foreclosures.” Financial Institutions must establish a policy and procedure for when such decisions to abandon a foreclosure are made which address the negative impact on the […]