Tag Archives: CFPB

Federal anti-discrimination laws in banking are supposed to protect consumers from credit companies from denying an application for credit or taking other adverse actions without just cause or a clear explanation on why the action was taken.  Companies have long used ...

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 ...

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 ...

“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.

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 ...

The year 2022 may go down as one of the most complex and risk-intensive housing markets in history, as Patrick Gluesing offers tips on how to navigate through this new marketplace.

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 ...

CFPB Director Rohit Chopra said, “Today’s report is further evidence of the serious harms stemming from [credit bureaus'] faulty financial surveillance business model.”

This is an opportunity for companies to identify and address internal pain points as borrower protections wind down, Acting Director Dave Uejio says.

Servicers should expect a “tidal wave” of distressed borrowers seeking help as forbearance plans expire. Having systems in place to handle a rapid increase in grievances will be crucial.