Tag Archives: Consumer Financial Protection Bureau (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.

As the CFPB swings into full enforcement mode with loss mitigation underway, Meghan Jones-Rolla of Mortgage Connect discusses how the industry is handling the Bureau’s mandate of “unprepared is unacceptable.”

The Consumer Financial Protection Bureau (CFPB) has recently published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA) bars lenders from discriminating against customers after they have received a loan, not just during the application process. “The ...

In a move to increase equitable housing for all qualified borrowers, lenders will be able to better assist and counsel their clients during the homebuying process.

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 ...

Eleven Senators call upon HUD and CFPB after a report suggested that Black and Hispanic borrowers were less likely to be approved for refis.

The PAVE Action Plan is aimed at advancing equity in the appraisal process and promoting generational wealth creation through homeownership.