Links in “CFPB”
- Peering into the CFPB’s Crystal Ball (a.k.a., Semi-Annual Report)
A look at what's noteworthy in the CFPB's fourth semi-annual report. [11/8]
- CFPB: Debt Collection Practices Confusing to Consumers
Since it began accepting debt collection practices in July, the CFPB has seen debt collection complaints quickly become one of the highest categories of grievances. [11/7]
- Dear Payday Lenders: Watch Out!
CFPB's powerful complaint receiving and tracking system is now active for borrowers encountering problems with their payday loans and payday lenders. The impact could be most challenging given the nature of product. [11/7]
- Bipartisan Action in House to Delay Implementation of the ATR/QM Rules
While it would not be prudent to put the brakes on your institution's efforts to prepare for the January implementation of the Ability-to-Repay and Qualified Mortgage rules just yet, 118 members of the House have signed a letter urging CFPB to delay implementation of the rules for one year. The House members claim that the 4,000 pages of regulations followed by four amendments to further clarify the requirements make it unrealistic for financial institutions and their software providers to be ready to comply in time. [11/6]
- Originators Would Be Most Affected by Proposed CFPB Debt Collection Rules
Banks and other creditors that originate and collect their own debt will be the most affected by the new rules since most existing regulations do not cover them. [11/6]
- CFPB Puts Shylocks in Their Sights
CFPB is moving aggressively against debt collectors including collecting their own information on elements associated with debt collectors and adding debt collections to its public consumer complaint database. [11/6]
- Why Senators May Find CFPB Response to Auto Lending Guidance Less-Than-Satisfactory
Senators' request for details on the methodology used by the CFPB to make its determination that "disparate impact" discrimination is present in the indirect auto financing market is met with a variety of evasive answers, such as not giving a threshold number at which a difference in loan rate would be considered discriminatory, saying such matters are handled on a "case-by-case" basis. [11/5]
- Whereâs the Data to Support the CFPBâs Contention of Discrimination in Indirect Auto Lending?
A group of Senators, along with NAFCU staff, are asking this question about the Bulletin issued by the CFPB in March 2013 that focuses on discrimination in indirect auto leasing. The Senators have requested to see documentation to support the CFPBâs contention that disparate impact is present in the indirect auto industry and warrants the onerous measures laid out in CFPB Bulletin 2013-02. [11/4]
- Complaint Pass-Through Channels a Go
CFPB teams up with the city of St. Louis to allow calls to local bureau pass through to CFPB's system. Includes wide range of topics with emphasis on complaints. [11/1]
- Report: Dodd-Frank, CFPB Continue to Worry Bankers
Despite growing optimism for the industry in general, regulatory compliance remains the second highest concern for bankers, particularly the continued implementation of Dodd-Frank and supervisory activities of the CFPB. [11/1]
