News stories tagged CFPB

CFPB also: finalizes supervisory guidance rule, issues FDCPA guide

(Jan. 22, 2021) A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday...

Smaller institutions exempted from HPML escrow accounts

(Jan. 22, 2021) An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule...

Summary outlines final rule on debt collection practices

(Jan. 22, 2021) The latest summary from NASCUS focuses on the new rule from CFPB on debt collection practice, which revises Regulation F (which, in turn, implements the Fair Debt...

Bureau, NCUA sign consumer protection MOU

(Jan. 15, 2021) Improving coordination between NCUA and CFPB over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a...

Bureau issues trial licenses for ‘sandbox’ products

(Jan. 8, 2021) A “dual-feature credit card” and a program allowing employees access to their earned but unpaid wages prior to payday got the green light late last week for...

New Reg C, Reg Z thresholds took effect Jan. 1

(Jan. 8, 2021) Credit unions and banks with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage...

Consumer law reform group touches on state regulation

(Jan. 8, 2021) Considering the benefits and costs of preempting state law where conflicts can impede the provision of valuable products and services (such as the regulation of FinTech companies...

Rule outlines ‘detailed disclosures’ in collection communications

(Dec. 23, 2020) Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers...

Bureau makes final two new QM rules

(Dec. 11, 2020) Two final rules related to “qualified mortgages” (QMs) – one installing a limit on lending based on a loan’s pricing, and the second creating a “seasoned QM”...

New summaries look at corporate, guidance rules

(Dec. 11, 2020) Two new summaries were posted this week by NASCUS, outlining an NCUA final rule on corporate credit unions and an interagency proposal about codifying the use of...

Summary outlines ANPR on financial records access

(Dec. 4, 2020) The CFPB’s proposal to develop a rule on consumer access to financial records has been summarized by NASCUS and is posted on the website; the summary –...