Dollar amounts for provisions in truth-in-lending regulations for credit cards and mortgages have been adjusted for consumer prices as of the beginning of this summer, the federal consumer financial protection agency said Monday. More specifically, […]
The way in which the federal consumer financial protection agency determines which counties qualify as “underserved” for a given calendar year for purposes of mortgage origination are outlined in an interpretive rule issued Tuesday. The […]
A handbook that lenders must provide to adjustable rate mortgage (ARM) borrowers at application or before the consumer pays a non-refundable fee (whichever is earlier) has been updated by the Consumer Financial Protection Bureau (CFPB), […]
The Consumer Financial Protection Bureau (CFPB) is providing temporary, targeted flexibility during the coronavirus (COVID-19) pandemic for credit card issuers regarding the electronic provision of certain disclosures under truth-in-lending laws that are required to be […]
Credit unions are encouraged to advise mortgage borrowers with a need for immediate access to funds that they can forego waiting periods for some of the loans, due to the coronavirus crisis, the federal credit […]
Data collections are postponed on such items on home mortgage disclosures and credit card and prepaid accounts until further notice to allow financial institutions firms time to focus on consumer needs during the coronavirus crisis, […]
Automatically denying consumers’ billing error notices – and claims of unauthorized use in certain circumstances – earned a Rhode Island bank a lawsuit from the federal consumer financial protection agency with eight counts of violations […]
Addressing the effectiveness of integrated disclosures required under federal regulations for real estate transactions is the subject of an assessment to be conducted by the federal consumer financial protection agency, the agency said Wednesday. In […]
The appraisal exemption threshold under Regulation Z (Truth in Lending Act) for higher-priced mortgage loans (HPMLs) is rising from $26,700 to $27,200 as of Jan. 1, 2020, according to a filing with the Federal Register. […]
A revised no-action letter (NAL) policy, announcement of the first NAL issued under the new policy, and final policies on trial disclosures and compliance assistance (proposed initially as a “product sandbox” policy) were issued Tuesday […]
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