The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of September 1, 2024, through September 30, 2024. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.
The National Credit Union Administration issued one consent and one prohibition notice in September 2024. The individuals named below are permanently prohibited from participating in the affairs of any federally insured depository institution.
The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of complaints that servicemembers filed with the CFPB increased in 2023.
This summer, the First Circuit revived a privacy class action based on debt collection practices. In Nightingale v National Grid USA Service Company, the district court granted summary judgment in favor of the defendants and denied class certification. On appeal, the First Circuit vacated and remanded, focusing its analysis on (1) whether the Plaintiff alleged a cognizable injury and (2) whether the injuries alleged met the predominance requirement to certify the putative class.
Telecom giant T-Mobile will pay a $31.5 million fine to settle investigations with the Federal Communications Commission for past data breaches that exposed the personal data of millions of customers.
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