News stories tagged CFPB

Bureau blames pandemic’s impact for complaint upticks

(March 26, 2021) More than a half million complaints – up 54% from the previous year – were fielded in 2020 by the CFPB, reflecting the financial impact of the...

CFPB urges stimulus to reach consumers

(March 19, 2021) Saying it is concerned that some payments will be intercepted to cover such things as unpaid overdraft fees, the CFPB this week encouraged financial institutions (including credit...

Bureau: ECOA prohibits sexual orientation/gender discrimination

(March 12, 2021) Sexual orientation discrimination and gender identity discrimination is prohibited under equal credit opportunity regulations, CFPB said this week in an interpretive rule. Further, the subhead for the...

Delay in QM rule examined in summary

(March 12, 2021) NASCUS also this week published a summary of CFPB’s proposal to delay the general “qualified mortgage” loan proposal, which would push the mandatory compliance date back by...

BRIEFLY: Bureau rescinds ‘abusiveness’ policy; Liang tapped for Treasury post; Chopra nomination advances despite tie vote; Q&A proposed on private flood insurance

(March 12, 2021) A policy unveiled early last year by CFPB that limited the extent of the agency’s response to certain abusive acts or practices affecting consumers was rescinded Thursday,...

CFPB puts brakes on new QM rule

(March 5, 2021) The mandatory compliance date of the general qualified mortgage (QM) final rule would be delayed 15 months (from July 1 to Oct. 1, 2022) under a proposal...

Bureau says action need to prevent evictions

(March 5, 2021) The day before CFPB Director Nominee Rohit Chopra’s appearance before a Senate committee considering his nomination, the bureau released a report from the current acting director saying...

Nominee calls for fair, effective mortgage market oversight

(March 5, 2021) Saying he looks forward to approaching with an open mind the mission of the CFPB, director nominee Rohit Chopra told a Senate panel this week that fair...

Ability-to-repay/QM rules updated in guide

(Feb. 26, 2021) Updates to the small-entity compliance guide on the ability-to-repay/qualified mortgage (QM) rule were also issued this week by the bureau, reflecting amendments to last year’s final rules...

Revising – or revoking – ‘seasoned QM’ rule under consideration

(Feb. 26, 2021) Revoking or revising the “seasoned” qualified mortgage (QM) final rule issued in December is under consideration by CFPB, according to a statement issued this week by the...

Acting bureau director voices aggressive tone

(Feb. 12, 2021) The CFPB is voicing a more aggressive tone under the leadership of Acting Director Dave Uejio, as evidenced by two initiatives he announced this week. Uejio is...

March 1 HMDA filing date coming up

(Feb. 12, 2021) Credit unions required to file reports on home mortgage loan applications made last year have until March 1 to do so, NCUA reminded this week in a...