CFPB

Who would craft regulatory policy in a Biden administration?

11/02/20

A Democratic victory in Tuesday’s election would likely produce new leaders at the CFPB and OCC who could take bank regulation in a sharply different direction. Here are some names potentially under consideration.

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What debt collectors can and can't do under CFPB rule

10/30/20

The agency’s final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal.

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Two consumer groups sue CFPB over payday rule

10/29/20

The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.

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Agencies formally propose rule to weaken role of guidance

10/29/20

The proposed regulation would codify a 2018 pronouncement by regulators that guidance does not carry the force of law.

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CFPB fines Washington Federal $200,000 for HMDA errors

10/27/20

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.

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CFPB developing proposal on who can access customer data

10/22/20

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers.

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CFPB staff shake-up seen hampering investigations

10/22/20

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

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GSE exemption to stay in place until underwriting rule finished: CFPB

10/20/20

The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.

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New pressure on banks to offer affordable consumer accounts

10/19/20

Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.

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CFPB reverses course on marketing services agreements

10/09/20

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable.

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