Links in “Agencies”
- Federal Reserve Stands for Same Day ACH
The Same Day ACH Rule, which was approved in May of this year, has received support from the Federal Reserve. A big step toward faster ACH everywhere. [9/24/15]
- The Highest Impact Person You’ve Never Heard Of
Kelly Cochran, assistant director of regulations at the CFPB, vets every rule that comes out of the agency. What do we know about her? [9/24/15]
- CFPB Ombudsman: Yesterday’s Mortgage Scammers are Today’s Student Loan Scammers
"Many of the same entities have sort of migrated over and have now really set their targets in the student loan space." [9/24/15]
- More People Are Taking Out Mortgages
The FFIEC released the Home Mortgage Disclosure Act (HMDA) data for 2014, which shows that more consumers took out mortgages to purchase a home in 2014 than during the previous year. [9/23/15]
- Consumers Complaints Highlight Continued Issues with Mortgage Servicing
The latest CFPB consumer compliant snapshot highlights issues consumers continue to have with their mortgages, including continued problems preventing foreclosure, lack of information when loans are transferred, and trouble making payments. [9/23/15]
- FFIEC Releases 2014 Data on Mortgage Lending
The FFIEC has released data on 2014 mortgage lending transactions at financial institutions covered by HMDA. [9/23/15]
- Spanish-Language Translation of the Home Buying Information Booklet Now Available
The CFPB has made available a Spanish-language translation of the recently revised Home Buying Information Booklet required under TILA and RESPA. It is available for download on the Bureauâs website. [9/23/15]
- Rural and Underserved Areas to Have Greater Access to Credit Following CFPB Rule Changes
On September 21, 2015, the Consumer Financial Protection Bureau made changes to its mortgage rules that will enable small lenders to provide greater credit opportunities in rural and underserved areas. Among other things, the new rules increase the loan origination limit for small-creditors to 2,000 from 500 and broaden the definition of "rural areas." [9/22/15]
- Victory for the FTC and Scammed Payday Loan Applicants
A group of online payday loan applicants who lost millions of dollars to scammers who enrolled them in undisclosed and unwanted programs are receiving restitution. As a result of a federal court ruling, the Federal Trade Commission is mailing more than 64,000 checks to victims. These checks will total $1.5 million. [9/22/15]
- NACHA Takes Action
NACHAâs ACH Network Risk and Enforcement Rule went into effect on Friday, September 18th. The rule is meant to decrease the amount of ACH transaction exceptions and returns by establishing a lower return threshold and inquiry process. [9/21/15]
