The Consumer Financial Protection Bureau (CFPB) has released its 17th edition of Supervisory Highlights, which shares observations in the bureau’s supervision activities in multiple areas.
The report praised the bureau’s supervision work in small business lending, but identified multiple ways mortgage servicers commit unfair acts and practices.
Read on for highlights from the new report, which also showcased auto loan servicing, credit card account management, debt collection and payday lending.
The Consumer Financial Protection Bureau (CFPB) has issued an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act which amended the Home Mortgage Disclosure Act (HMDA).
The bureau also released updates to the Filing Instructions Guide (FIG) for HMDA data collected in 2018 to incorporate the Act as implemented and clarified by the rule issued Aug. 31.
Read on for further details of the rule.
More than two months after relieving all 25 Consumer Advisory Board (CAB) members and two additional advisory councils of their positions, Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney has made good on his promise to fill some of the positions – albeit on a much smaller scale.
Mulvaney said he was bringing “a fresh perspective” to the bureau’s work with the moves.
Read on to see details about the new CAB, Community Bank Advisory Council (CBAC) and Credit Union Advisory Council (CUAC).
The U.S. Supreme Court’s ruling in the Lucia v. SEC case likely will require the Consumer Financial Protection Bureau (CFPB) to rehear an administrative case it brought against a defunct online lender.
The bureau filed a notice of charges against Integrity Advance and CEO James Carnes in November 2015, alleging TILA, Electronic Fund Transfer Act (EFTA) and Consumer Financial Protection Act (CFPA) claims.
Read on for details from the joint court statement.
The Consumer Financial Protection Bureau (CFPB) recently issued a final rule amending threshold levels under TILA based on changes in the Consumer Price Index.
The thresholds apply to the Home Ownership and Equity Protection Act, qualified mortgage loans and the Credit Card Accountability Responsibility and Disclosure Act.
Read on to learn more details about the new thresholds, which take effect Jan. 1.
The Third Circuit Court of Appeals has upheld the Consumer Financial Protection Bureau’s (CFPB) right to issue a civil investigative demand (CID) to a student loan servicer.
The bureau filed a petition in 2017 to enforce a CID to Heartland Campus Solutions, ECSI, in a Pennsylvania federal court.
Read on for highlights of the higher court’s opinion, which found the CFPB complied with the statute that authorizes the bureau to enforce CIDs.
The Consumer Financial Protection Bureau (CFPB) has a new resource to test whether an HMDA file meets formatting requirements specified in the HMDA Filing Instructions Guide (FIG).
The File Format Verification Tool (FFVT) was developed for HMDA data collected in 2018 and submitted in 2019. It has no login functions, and does not log identifying information about FFVT users or the files they upload.
Read on for more details.
The Consumer Financial Protection Bureau (CFPB) received 8,023 public comments on its request for information about the bureau’s civil investigative demands (CIDs).
The bureau issued a Request for Information (RFI) Jan. 17 seeking information from interested parties to consider whether any changes to CIDs would be appropriate.
Read on to learn what RESPRO, the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA) and others had to say about the process.
Regulatory reform is needed to promote more efficient real estate transactions in a post-crisis regulatory environment, according to a new report from the U.S. Department of Treasury.
The report focuses on nonbank financials, fintech and innovation, and details several trends that arose following the housing crisis.
Read on to learn what the National Association of Realtors (NAR) has to say about the Treasury’s report.
A federal judge in Montana is the latest to rule that the structure of the Consumer Financial Protection Bureau is constitutional.
U.S. District Judge Brian Morris’s Aug. 3 opinion denied a motion to dismiss by Think Finance, a debt collector that was sued by the CFPB in 2017 for allegedly violating the Consumer Financial Protection Act (CFPA).
Read on for highlights of the judge’s opinion, which cited previous case law across the country and noted the administration’s “shifting position on this issue.”
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