Links in “Banks”

The CFPB, the government's chief watchdog for protecting consumers from bad debt collection practices, may need to turn on itself after a former CFPB intern has found herself receiving demand notices from the CFPF for debts she claims she does not owe. Perhaps she should submit a complaint to the CFPB's complaint website? [5/15/15]

After getting no signs of flexibility from the CFPB, the ABA takes its cause to Congress in an effort to provide a transition period for TILA/RESPA Integrate Disclosures. "If we do not get this right, it will have a negative impact on consumers, banks, and the recovery of the housing market." [5/15/15]

The CFPB's actions of late toward student lending suggest that all student borrower complaints are valid, that student loan borrowers who aren't making payments are automatically entitled to relief, and that problems in the economy making it hard for student loan borrowers to be fully employed should be resolved by loan holders. [5/15/15]

With the Aug. 1 effective date rapidly approaching, a survey finds that 79% of banks can't even verify a precise delivery date for their updated TILA-RESPA Integrated Disclosure system. More than 20% say they will stop offering certain mortgage products if their vendor systems are not ready. [5/14/15]

The CFPB's director says the bureau "listened carefully" to industry concerns that new integrated disclosure rules may frequently delay closings, so the bureau limited the circumstances under which such delays would occur. But here's what Cordray isn't fully taking into account. [5/14/15]

Student lending bears "an uncanny resemblance to the situation where struggling homeowners reached out to their mortgage servicers before, during, and after the financial crisis," according to CFPB Director Cordray, who launched today a review of the $1.2 trillion student debt market. [5/14/15]

A CFPB consent order signed this month cites the condition of roads in a development in a small town in Tennessee, raising questions on where the limits are on the bureau's regulatory authority. "If anyone doubts the expansive reach of the CFPB, look no further than [this] Consent Order." [5/13/15]

While the regulatory relief measure introduced in the Senate may not yet enjoy bipartisan support, it is being roundly applauded by both the ABA and the ICBA. [5/13/15]

Coming in at more than 200 pages and consisting of eight titles, a regulatory relief bill was unveiled yesterday. But a top Democrat called it "a sprawling wish list of Dodd-Frank rollbacks." [5/13/15]

Russia and China, two cyberworld superpowers, just signed a pact not to cyberattack each other. What does that mean to the U.S.? [5/12/15]