Tag Archives: CFPB

U.S. Rep. French Hill (R-Arkansas) said Monday that the Consumer Financial Protection Bureau (CFPB) needs to do a lot more to ensure the industry understand the new TRID-compliant ‘Know Before You Owe’ rules before they take effect.

Several bills aimed at rolling back Dodd-Frank or changing the CFPB have been gaining traction as of late. How does the latest proposal, H.R. 5211, aim to amend the mission of the Bureau?

Many in the mortgage industry have complained of the complexity of implementing the rule and the difficulty of complying, despite the rule’s goal of making it easier on all parties involved to close a mortgage loan. But do homebuyers share these same sentiments?

The CFPB's controversial rule proposal to ban arbitration clauses in business contracts has generated quite a buzz. This week, a House subcommittee will hold a hearing on whether the proposed rule is in the public interest and whether it will really protect consumers.

The Consumer Financial Protection Bureau proposed a rule on Tuesday regarding businesses' use of arbitration clauses in contracts. What does the rule include?

Between attempts made by lawmakers to reform the Bureau to the PHH trial, the CFPB is probably glad to see April in the rear view mirror.

The CFPB has proposed a ban on the use of arbitration clauses that prevent consumers from bringing class action suits against businesses. A coalition of more than 160 groups, including AFL-CIO and NAACP, wants the Bureau to take the rule even further, however.

CFPB Director Richard Cordray acknowledged that the Bureau's TRID rule has been a source of consternation for the mortgage industry—and he suggested that some changes may be on the way.

In an industry that is so male and white-focused, women and minorities are often passed over for well-deserved positions and promotions, but this idea is being reshaped and redefined right before our eyes.

Consumers ran into three major problems with the way their loan is being serviced, according to the CFPB's latest monthly consumer complaint snapshot.