Democratic senators and the Consumer Financial Protection Bureau (CFPB) are frequently at odds since Richard Cordray left as director. But they are joining together to ask the Department of Education to cooperate with state and federal regulators’ supervision and enforcement requests for information related to student loans.
CFPB Director Kathy Kraninger recently responded to a letter from Sen. Elizabeth Warren requesting more information on bureau oversight and the effects of a DOE guidance document.
Read on for details from the letters.
The Federal Housing Administration has proposed several revisions to its lender certification requirements to provide lenders and servicers greater certainty in how to satisfy the agency’s compliance requirements.
FHA officials said the changes to its loan-level and annual lender-level certifications will provide more precision and needed clarity to compliance documents.
Read on for reaction from U.S. Housing and Urban Development Secretary Ben Carson and FHA Commissioner Brian Montgomery.
The Office of the Comptroller of the Currency (OCC) has updated its examiners handbook with servicing and TRID rule changes.
The revised RESPA booklet of the Comptroller’s Handbook replaces the April 2015 version and provides guidance and procedures to examiners in connection with changes made by the Consumer Financial Protection Bureau to Regulation X, which implements RESPA.
Read on for highlights from the revised OCC RESPA booklet.
The Consumer Financial Protection Bureau (CFPB) has issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA).
The proposal – the first new rulemaking since former CFPB Director Richard Cordray left office – would provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts.
Read on for more details about the bureau’s proposed rule.
The NPRM would raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the 2015 HMDA rule and clarify partial exemptions.
Read on to discover what the CFPB seeks industry feedback about.<
The Consumer Financial Protection Bureau (CFPB) has issued a request for information (RFI) seeking feedback on its remittance rule.
The National Association of Federally-Insured Credit Unions (NAFCU) is among the groups expected to provide the bureau with recommendations to reduce the rule’s burden on credit unions.
Read on for reaction from NAFCU President and CEO Dan Berger.
The Consumer Financial Protection Bureau (CFPB) will be hosting a symposia series to encourage proactive and transparent dialogue about topics affecting the financial marketplace.
The series will be made up of panels with industry stakeholders, and is designed to help the CFPB with its policy development process, including possible future rulemakings on access to credit and other topics.
Read on for reaction from CFPB Director Kathy Kraninger.
The Conference of State Bank Supervisors (CSBS) recently met with leaders at the Federal Reserve Board of Governors, Federal Deposit Insurance Corp. (FDIC), and House and Senate members at the agency’s 2019 Government Relations Fly-In.
Among the areas they discussed was the effect of community bank leverage ratio relief including in recent financial reform legislation.
Read on for details of the fly-in, which gave the agency an opportunity to share their top priorities with policy makers, from CSBS President and CEO John Ryan.
New Consumer Financial Prevention Bureau (CFPB) Director Kathy Kraninger made her first public remarks Wednesday to lay out her vision for the bureau as the keynote speaker at the Bipartisan Policy Center in Washington, D.C.
Kraninger detailed four ways the CFPB will focus on prevention of harm to consumers under her watch.
Read on for highlights of Kraninger’s speech, which lauded “purposeful enforcement” on a case-by-case basis.
The days of the “more is more” regulatory approach by the Consumer Financial Protection Bureau (CFPB) may be coming to an end.
The CFPB’s new proposed modus operandi?
Keep regulatory rules as simple as possible while encouraging decentralized decision-making, acting CFPB deputy director Brian Johnson said while speaking recently at the George Mason University Law & Economics Center’s Ninth Annual Financial Services Symposium.
Read on for more of Johnson’s remarks.
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