Links in “CFPB”
- Challenges Looming for Cordray’s “Regime”?
Director Cordray calls CFPB a "regime that will govern the mortgage servicing marketâincluding both the banks and their nonbank competitorsâin perpetuity." But Congress has taken up a bill that could changes things for the CFPB, instituting a five-member commission and subjecting it the regular appropriations process. [2/28]
- Cordray to Banks: Give Customers Their Credit Scores
CFPB's director asks banks to provide customers their credit scores so they can investigate if it is lower than they think it should be. [2/28]
- The Consumer Crusaders: CFPB and AGs
CFPB's Richard Cordray's speech to the National Association of Attorneys General addressed highlights of the agency's work, including efforts with four states Attorneys General offices, use of real-time access to complaints system, mortgage services industry efforts, and collections efforts -- all part of the "crusades we are undertaking together to improve life for American consumers." [2/27]
- CFPB Promoting Complaint Database to State Attorneys General
In a speech to state Attorney Generals, CFPB's Cordray addressed a number of areas where the agency is seeking to strengthen its communication with state AG offices, including partnering with states on the sharing of consumer complaint information. [2/27]
- Report: CFPB Targeting Small-dollar Lending Products in 2014
Payday, title loans and other small-dollar lending products are on the CFPB's plate for 2014. [2/27]
- Self-Reported RESPA Violations Results in Softened Penalties?
Connecticut mortgage lender self-reported potential RESPA violations and reaches a $83,000 settlement with CFPB. [2/25]
- CFPB Clarifies What “Good Faith Effort” Means in Mortgage Servicing
While the CFPB had earlier pledged to take into account the good faith efforts of financial institutions to comply with the flood of new mortgage servicing rules, the bureau is now making clear that a "good faith effort does not mean services have the freedom to harm consumers." [2/21]
- Trade Groups Request Delay of CFPB’s “Know Before You Owe”
Several trade groups have written the CFPB to request a deferral of the "Know Before You Owe" effort until after the RESPA-TILA integrated disclosure rules is implemented. [2/20]
- Crackdown Looming: CFPB Says No More Mr. Nice Guy When it Comes to Mortgage Servicers
Agency's #2 says servicers have had more than a year to prepare for the reform rule that took effect last month, suggesting the CFPB would move quickly and harshly against violators. [2/20]
- CFPB’s Deputy Director Speaks to Mortgage Bankers Association
Sharp words spoken by Deputy Antonakes who doesn't mince remarks to mortgage industry citing failures of the past and expectations of the future. CFPB boldly affirms the need for paradigm shift as "business as usual is over." [2/20]
