Links in “Agencies”
- Report: CFPB’s To-Do List Includes Expanding ECOA, HMDA Data Collection
To-do list includes implementing the Dodd-Frank amendments to the Equal Credit Opportunity Act that require financial institutions to collect additional data on credit applications made by women- or minority-owned businesses and small businesses as well as much more Home Mortgage Disclosure Act data. [8/21]
- CFPB Files Against Deception and Illegal Fees
Nationwide debt-settlement company charged with deception and illegal fees. "No Upfront Fees" and "Debt free in Months" turn out to be far from reality. [8/21]
- FHA Shortens Waiting Period to 1 Year for Certain Borrowers Who Went Through Foreclosures
New Federal Housing Assistance guidelines allow certain borrowers who went through foreclosure, bankruptcy deed-in-lieu, or short sale to re-enter the market in as little as 12 months, rather than 3 years. [8/20]
- Et Tu FCA? Apparently, Yes
Farm Credit Administration will be handing over S.A.F.E. Act oversight to CFPB with recoding of regulation to include FCA. [8/20]
- NCUA Seeks Comments on Appraisals and FHA Anti-Redlining
A reinstatement request with modification, but has underlying tone of importance of ensuring analysis of CU's appraisals and impact on Fair Lending. Comment period of 60 days. [8/19]
- OCC Bans Bank Employee for Selling Customer Info
Among other enforcement actions, former banker in South Dakota banned from banking for selling customer information to an outside party, which used that information in a fraudulent check-cashing scheme that cost the bank nearly $50K. [8/19]
- CFPB to Provide Guidance on Rules Through Enforcement?
Conference attendees struggle to get clarity on rules from CFPB officials, most of whom are from the enforcement side, rather than the policy-making side. [8/16]
- CFPB Seeks Quick Revision to Privacy Act for Use of Social Media
Proposal (comments due 9/16/2013) seeks to expand use and distribution of social media information obtained by CFPB from tweets, facebook, etc. Distribution partners include not so surprisingly the DOJ among others. [8/16]
- FTC Fines Certegy $3.5 Million on FCRA Violations
One of nation's largest consumer reporting agency (CRA) charged with insufficient handling of consumer's right to inaccurate information in consumer credit reports. Key lessons on FCRA dispute notification and handling noted. [8/16]
- FTC Seeks Public Comment on COPPA’s Parental Consent
Requests for public comment focus on proposed AssertID verifiable parental consent for children regarding Childrenâs Online Privacy Protection Rule methods. [8/16]
