News stories tagged CFPB
Bulletin highlights concern over expected eviction surge
(July 9, 2021) Landlords, consumer reporting agencies (CRAs), and others are reminded of their obligations to accurately report rental and eviction information in a compliance bulletin published by CFPB this...
COVID-related complaints saw uptick over overdraft fees
(July 9, 2021) Consumer complaints about federal student loans fell off during the coronavirus crisis, but protests about overdraft fees on checking accounts surged due to financial institutions attempting to...
On rules for AI, slow and steady is the ticket, NASCUS writes
(July 9, 2021) A slow, methodical approach should be taken to determining the best regulatory scheme to address the use of the developing technology of artificial intelligence/machine learning (AI/ML) by...
Rules aim to ease expected foreclosure surge
(July 2, 2021) Rules described as designed to help prevent a surge of foreclosures as federal protections expire were finalized this week – to become effective Aug. 31 – by...
Report details violations of consumer law in ‘20
(July 2, 2021) Four types of violations during 2020 of federal consumer protection and anti-discrimination laws – including those involving student lending and mortgage lending disclosures — are branded “particularly...
Bureau notes holiday issues with mortgage disclosures
(June 25, 2021) The timing of mortgage lenders’ compliance with federal disclosure rules may have been disrupted with the abrupt implementation of the new “Juneteenth” federal holiday late last week...
CFPB expects proposal on small biz data collection
(June 18, 2021) Collection, reporting, and public disclosure of data concerning credit applications made by women-owned, minority-owned, and small businesses will be the subject of a proposed rule by the...
Bureau to resume exams under Military Lending Act
(June 18, 2021) Military Lending Act-related examinations will now resume by the CFPB, the agency said this week, asserting that the prior administration’s reasoning for discontinuing the reviews were not...
Report critiques bureau’s fair lending reorganization
(June 11, 2021) Changes made during its reorganization have led to a loss of fair lending expertise at the CFPB, and other actions taken by the agency could lead to...
BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators
(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....
Alert provides details behind QM compliance date delay
(May 28, 2021) The delay to Oct. 1, 2022 of the mandatory compliance date of the general qualified mortgage (QM) final rule is the subject of a regulatory alert issued...
HMDA data leads to new report on manufactured housing
(May 28, 2021) Consumers borrowing to buy manufactured homes face higher interest rates, and ultimately barriers to credit through limited refinancing options, CFPB contends in a report released Thursday, which...