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Tag Archives: CFPB

CFPB Opens New Office to Spur Competition and Innovation

The Consumer Finance Protection Bureau (CFPB) announced the creation of a new office, thus forth called “the Office of Competition and Innovation,” to “spur innovation in financial services by promoting competition and stumbling blocks for new market entrants.”  The creation ...

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CFPB Issues New Interpretive Rule

The Consumer Financial Protection Bureau (CFPB) has issued a new interpretive rule that describes individual states’ authorities to pursue lawbreaking companies and individuals that violate the provisions of federal consumer financial protection law. This announcement is part of the CFPB’s ...

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Homeowners Continue to Face Challenges After the Pandemic

“While many mortgage servicers are successfully assisting borrowers to avoid foreclosure, today's report highlights that some servicers are lagging their peers and are less well-equipped to assist borrowers who have exited pandemic housing protections,” said Rohit Chopra, CFPB Director.

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CFPB Seeks to Examine More Nonbank Financial Companies

The Consumer Financial Protection Bureau (CFPB), created in 2010 as part of the Dodd-Frank Act, has invoked an unused portion of its legal power to examine nonbank financial companies that pose risks to consumers.  The CPFB believes that using this ...

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CFPB Initiative to Address Home Valuations

The Consumer Financial Protection Bureau (CFPB) recently outlined options to ensure that computer models used to help determine home estimates are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses. When underwriting ...

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