CFPB

5 ways the CFPB has eased industry’s coronavirus burden

05/18/20

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

[more]

Servicers get flak, Bisignano’s Fiserv play, lenders on PPP hook: Top stories of the week

05/15/20

Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.

[more]

CFPB gives credit card issuers flexibility on billing disputes

05/13/20

With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.

[more]

CFPB, other agencies post website for consumers seeking housing relief

05/12/20

The joint site describes potential strategies for both homeowners and renters economically affected by COVID-19.

[more]

CFPB expands relief for banks and credit unions from remittance rules

05/11/20

The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.

[more]

CFPB gets earful from consumers about mortgage servicers

05/10/20

Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronvavirus relief law.

[more]

Latest worry for PPP lenders: Liability for loans they didn't make

05/05/20

Bankers are bracing for accusations of discrimination in the way Paycheck Protection Program loans were allocated.

[more]

Regulators urge banks to monitor security of cloud service providers

05/01/20

The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.

[more]

Consumer loan applications dropped as coronavirus spread, CFPB says

05/01/20

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

[more]

CFPB critics moving swiftly to challenge payday lending rule

04/30/20

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.

[more]