Links in “CFPB”
- CFPB Schools on Student Loans
The CFPB promotes key elements of private student loan placement with key problems associated with the program such as prepayment stumbling blocks, partial payment snags and servicing transfer surprises. [10/17]
- Coming to Grips with Rising HMDA Expectations
Along with its announcement of two large fines for submitting incorrect HMDA data, CFPB spells out what it expects of institutions to ensure accurate submissions. [10/17]
- CBA: CFPB’s Student Loan Report Relies on Sweeping Characterizations Based on Unverified Complaints
Group says CFPB skews reality by basing its report on 3,800 unverified complaints from 0.002 percent of customers. [10/17]
- CFPB Guides Mortgage Servicing
Guidance on key aspects of mortgage servicing rules including post mortem, early intervention on delinquency, elements of collection and requirements under Fair Debt Collection Practices (FDCP). [10/16]
- CFPB Offers Guidance on Three Mortgage Servicing Issues
Early intervention requirements, home retention efforts after a borrower dies, and the interplay between servicing rules, bankruptcy code and Fair Debt Collection Practices are addressed in a bulletin and interim final rule released by the CFPB. [10/16]
- ABA Cautions CFPB Against Overreacting on Overdrafts
Letter calls on CFPB to appropriately protect consumers without depriving them of valuable overdraft services or unduly impairing bank revenues. [10/15]
- Group Uses CFPB Database to Find Minority Communities Less Likely to Have Complaints Addressed
National Community Reinvestment Council issues analysis by ZIP code to find that complaints from predominately minority communities more like to have complaints closed without relief; calls upon CFPB and other agencies to use the complaint database in CRA exams. [10/15]
- HMDA Hot List: CFPB Spells Out What It Expects to See in an Effective HMDA System
What may have been lost in the news about the civil money penalties for the HMDA failings of two financial institutions is the real take-away for all financial institutions: CFPB issues guidelines on what it describes as being elements of an effective HMDA system, including internal pre-submission HMDA audits, reviews of regulatory changes, reporting systems, assigning individuals responsible for oversight and data entry, and employee training. [10/14]
- CFPB “Not” Collecting Data on Consumers to the Tune of $7M in 2012
CFPB resists the suggestion that it is building databases that contain personal data or profiles on individuals, but identifies 11 companies with whom it has contracts for purposes of purchase, collection, analysis and storage of data and spent a little over $7 million on it in FY 2012. [10/11]
- Consent Orders with Fines to Correct HMDA Submissions
CFPB fines two financial institutions $450K for HMDA reporting violations. [10/11]
