Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Dec. 1 is the new deadline for comments on how best to create a regulatory environment that expands access to credit and ensures against discrimination in all aspects of a credit transaction, according to a […]
A new category of “seasoned” qualified mortgages (QMs) that would apply to portfolio loans meeting certain performance requirements over a 36-month seasoning period, including having no more than two delinquencies of 30 or more days […]
Dollar amount triggers for Truth in Lending Act (TILA) regulations affecting consumer credit and mortgage loans are unchanged for open-end credit plans in 2021 but will rise a fraction of a percentage point under a […]
A set of 34 frequently asked questions (with answers) regarding its payday lending rule – addressing covered loans, payment transfers, and payment notices – has been published by the Consumer Financial Protection Bureau (CFPB), the […]
Apparently expressing confidence that students will be actually returning to their schools over the next few weeks, federal bank, credit union, and consumer financial protection regulators are scheduling a webinar late this month on financial […]
Lenders are reminded that the Equal Credit Opportunity Act (ECOA) and Regulation B have provisions that allow lenders to implement special purpose credit programs (SPCPs) to meet special social needs and benefit economically disadvantaged groups, […]
The Consumer Financial Protection Bureau (CFPB) has added two frequently asked questions (FAQs) related to Home Mortgage Disclosure Act (HMDA) reporting requirements for certain data points, the agency said Thursday. The two FAQs, dated July […]
Usually, when a witness appears before a congressional committee, she or he receives a warm welcome from the committee’s chairperson or at least some words like “thanks for being here” (whether heartfelt or not). It […]
A regulatory environment that allows for expanding credit with protection from discrimination in credit transactions is the stated aim of a “request for information” (RFI) from the consumer financial protection agency, announced Tuesday. In a […]
About 5% of complaints received by the federal consumer financial protection agency since the year began specifically referenced coronavirus, the director of the agency told a Senate panel Wednesday. Consumer Financial Protection Bureau (CFPB) Director […]
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