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Home | Tag Archives: CFPB

Tag Archives: CFPB

Community Banks Petition for CFPB for Expanded Exemptions

Community Banks Petition for CFPB for Expanded Exemptions

One of the more nagging ripples of post-crisis reform is the amount of regulations laid upon the shoulders of financial institutions. Akin to the sweeping post-9/11 security reforms that banks now implement, cumbersome new regulations for lending are proving costly to small banks, which are having trouble competing with large institutions due to expensive compliance costs.

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CFPB Director Fields Questions from House Committee

CFPB Director Fields Questions from House Committee

A week after appearing before the Senate Banking Committee, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray traveled back up the hill again to review the bureau's semi-annual report and take questions from the House Financial Services Committee. At the hearing, committee members asked Cordray to address a number of issues surrounding the embattled agency, including accountability concerns and allegations of discrimination.

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SunTrust Bank Settles with Feds for Nearly $1 Billion

SunTrust Bank Settles with Feds for Nearly $1 Billion

SunTrust Banks, Inc., announced it has struck a nearly $1 billion deal with the government to settle allegations of misconduct in both its lending and servicing practices. In an agreement reached with the Consumer Financial Protection Bureau (CFPB), Justice Department, HUD, and attorneys general in 49 states and the District of Columbia, SunTrust agreed to provide relief to consumers and payments to the government totaling a combined value of $968 million

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CFPB Charges Stonebridge with RESPA Violations

CFPB Charges Stonebridge with RESPA Violations

The Consumer Financial Protection Bureau (CFPB) announced it is charging Parsippany, New Jersey-based Stonebridge Title Services Inc., with violating the Real Estate Settlement Procedures Act (RESPA) by offering kickbacks for business referrals. In a consent order released Thursday, the CFPB ordered Stonebridge to pay a civil penalty of $30,000.

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CFPB Director Gives Report to Senate Banking Committee

CFPB Director Gives Report to Senate Banking Committee

CFPB Director Richard Cordray appeared before the Senate Committee on Banking, Housing, and Urban Affairs Tuesday morning to give the Semi-Annual Report of the Consumer Financial Protection Bureau. At the hearing, a myriad of topics were discussed, including mortgages, student loans, as well as proposed data collection efforts for the National Mortgage Database.

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Student Loan Debt Preventing Homeownership, Hampering Economy

Student Loan Debt Preventing Homeownership, Hampering Economy

Speaking before an audience at the Boulder Summer Conference on Consumer Financial Decision Making, CFPB director Richard Cordray spoke on the effects of student loan debt on the future of the housing market. The oft-criticized director commented on the growing $1.2 trillion of student loan debt, and how student debt will have negative ramifications on the housing market in the future.

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