On 5/11/21, the Federal Deposit Insurance Corporation (FDIC) published its 2021 Risk Review, which outlines a list of emerging risks in the U.S. banking system. According to the FDIC’s release, they began reporting key banking sector risks in its Risk Review publication in 2019, and this year’s report expands coverage of key risks during a time of heightened uncertainty.

On 5/6/21, the CFPB announced the release of the annual report from the Bureau’s Office of Severvicemember Affairs. This publication outlines the CFPB’s continued steps to help servicemembers and their families. Among other things, the publication outlines complaints received by servicemembers.

On 5/4/2021, the CFPB released two reports where the CFPB explains that more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn. The first report documents that Black and Hispanic mortgage borrowers are much more likely to be delinquent or in a forbearance program than white borrowers. In a second report, the CFPB reports that overall mortgage complaints to the CFPB have risen to their highest level in three years.

On 4/28/2021, the CFPB issued a bulletin that analyzes complaints submitted by consumers in counties nationwide. In their release, the CFPB explains that, in 2019 and 2020, it received more complaints on a per-capita basis from consumers living in predominantly minority counties than from consumers in predominantly white, non-Hispanic counties. Consumers in counties with the highest percentage of minority population submitted complaints at over four times the rate compared to counties with the lowest percentage of minority population.

On 4/27/2021, the CFPB officially delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. In their release, the CFPB states it is taking this action to help ensure access to responsible, affordable mortgage credit, and preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.

on 4/22/21, the FDIC issued a proposed rule implementing its statutory authority to prohibit any person or organization from making misrepresentations about FDIC deposit insurance or misusing the FDIC’s name or logo. This statutory authority allows the FDIC to bring formal enforcement actions, such as cease and desist orders or civil money penalties, against individuals or entities for violations.