The CFPB’s ability-to-repay/qualified mortgage rule is putting credit unions in a bind. What does it mean for buyers?
Read More »Committed to Consumer Protection
Amidst a serious push by Republicans in Congress to restructure—or even dismantle the CFPB, Pennsylvania recently joins other states that have taken steps to double down on consumer finance laws to protect citizens from financial scams. Attorney General Josh Shapiro ...
Read More »Could CFPB Poll Results Be Skewed?
A recent poll may have showed serious support for the CFPB and Dodd-Frank, but after further study, the results may not be as accurate as some had hoped. What gives?
Read More »One Rule—Two Outlooks
The Consumer Financial Protection Bureau’s recent arbitration rule might be in trouble, according to a recent press release by the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Take a look at what Senators are saying about the rule and what they’re doing to overturn it.
Read More »CFPB Names Advisory Board Members
The Consumer Financial Protection Bureau recently announced a new group of advisory board members, including one member of the servicing community. Will he bring a much-needed voice to the CFPB, or will the bureau remain static in its regulations?
Read More »CFPB Clears the Way for Class-Action Lawsuits
The Consumer Financial Protection Bureau has cleared the way for additional class action lawsuits. See what’s changed and how it affects the consumer here.
Read More »The TRID Picture Becomes Clearer
It seems the Consumer Financial Protection Bureau may have finally offered clarity on its 2015 TILA-RESPA Integrated Disclosure Rule—or TRID—today, with the release of “finalized updates” this morning. But is this really the end for the Know Before You Owe confusion? Considering there’s yet another proposal in the works, likely not.
Read More »NCUA: Different Roles, Different Oversight
What makes one financial institution different than another? And what does that mean for CFPB oversight? Read on to see what the NCUA thinks.
Read More »Banking and Housing Lobby Petitions for CFPB Structural Changes
The banking and housing lobby has recently sent a letter to the leaders of the Senate and House appropriations committees expressing their position that the Consumer Financial Protection Bureau should be restructured from a single director to a bipartisan panel of five people. Will they be able to get it through before Cordray’s appointment is up in 2018.
Read More »What Goes Up Must Come Down
A bill by Representative Tom Emmer (R-Min) that would increase the reporting threshold under the Home Mortgage Disclosure Act for open-end lines of credit and closed-end mortgages was introduced Tuesday. This isn’t the first legislation of its kind; several are urging CFPB to provide exemptions from its rules. Many of these requirements will be rolled out after the first of 2018. See what Representative Tom Emmer and Congressman Blaine Luetkemeyer have in mind.
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