News stories tagged CFPB

CFPB ‘Time-barred debt’ rule outlined

(Jan. 29, 2021) In addition to the three summaries of NCUA actions, NASCUS this week also posted a new summary of CFPB recent actions – this one on the bureau’s...

BRIEFLY: ‘Aggressive action’ on COVID-19 relief violations vowed; Call reports due by Sunday; VA has job positions open; Webinar looks at Treasury’s capital investment program

(Jan. 29, 2021) The new acting director of the CFPB said in a statement released Thursday that the bureau will be taking “aggressive action” in response to cases where financial...

‘Experiment’ examines consumer priorities with debt, savings

(Jan. 29, 2021) Most consumers with savings would pay down some credit card debt but would also preserve a savings cushion rather than spend all of it retiring the balance,...

Kraninger resigns as Biden nominates successor

(Jan. 22, 2021) There was more change this week in Washington as Consumer Financial Protection Bureau Director Kathleen (“Kathy”) Kraninger resigned Wednesday, shortly after President Joe Biden took the oath...

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...

Agencies say MOU aimed at improving big CU consumer protection

(Jan. 22, 2021) Improving coordination between NCUA and the CFPB over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of...

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...