Links in “Banks”
- Narrowed List of Exceptions That Prompt Additional 3-day Waiting Period
CFPB narrows the list of mortgage loan changes that would extend closing by three days to only "significant" changes, such as a change of APR of more than 1/8 of a percent, changing the loan product, or adding a prepayment penalty. [1/23]
- Agencies’ Efforts to Chase Banks from Payday Advance Products Proving Successful
Regulators' warnings and increased scrutiny of products that have payday-loan-like features is pushing lenders such as U.S. Bank and Wells Fargo to kill such products. [1/23]
- Is FDIC-style Insurance on the Horizon for Bitcoin?
Companies seeking ways to move digital currency into the mainstream with FDIC-like backing, such as a London company that offers Bitcoin accountholders insurance through Lloyd's of London or Boston company that plans to allow investors to insure bitcoins through derivatives trading. [1/23]
- Timing and Content of New ARM Notice Requirements
A look into the timing and content requirement of the new Adjustable Rate Mortgage notice requirements. [1/22]
- Rent Rates Connected to Loan Production Results in RESPA Violation
Missouri-based mortgage lender ordered to pay more than $80,000 for funneling illegal kickbacks in the form of rent reduction in exchange for referrals. [1/22]
- EMV Adoption by 2015?
Industry observer spells out three reasons Europay, Mastercard, and Visa (EMV) chip-and-PIN cards that are used in much of the world will be adopted by U.S. market by 2015. [1/22]
- Eminent Domain Threats Discourage Mortgage Lending
Securities industry views mere threat of such actions by municipalities as enough to impair the availability of credit in such communities. [1/22]
- Report on the Early Days of CFPB: Clash Between 2 Camps
Recent Washington Post article tells the inside story of the CFPB's early days, including a clash between two camps: one that wanted to strive to make financial institutions more transparent so that consumers could make informed decisions, and another that stressed using high-profile enforcement actions to send messages. [1/21]
- Are CFPB’s New Mortgage Lending Rules Hurting Those They’re Designed to Protect?
Some industry veterans see the CFPB's new lending rules will hurt low-income borrowers the most. [1/21]
- Fitch: Auto Lenders Facing Increased Costs Due to Compliance Requirements
Credit rating service Fitch warns that CFPB's heightened scrutiny of potentially discriminatory practices in auto lending will increase costs for auto lenders in 2014. [1/21]
