Links in “CFPB”
- January Compliance: A Moving Target?
More ability-to-pay rule changes are forthcoming, and CFPB isn't interested in pushing the January 2014 deadline, although it is pledging to be "sensitive" to the good-faith efforts of lenders to be ready on time. [9/13]
- More Mortgage Rule Changes Coming “Any Day Now”
CFPB director says additional changes to servicing, ability to repay and loan originator compensation rules are coming "any day now," but shows no receptiveness to delaying the effective date. [9/12]
- Customer Complaints: The Best Defense Is a Good Offense
With CFPB aggressively urging customers to file complaints in its public database, banks should work to cut complaints off at the pass through having a very good system of resolving complaints quickly before they have a chance to reach the CFPB. [9/12]
- CFPB’s Integration of Enforcement Attorneys into Examinations Under Review
The Office of Inspector General's updated work plan for the CFPB includes an evaluation of the CFPB's practice of bringing enforcement attorneys into examinations, which is causing concern that the practice will inhibit free and open communication and position the examination as the development ground for enforcement actions. [9/10]
- Survey: Compliance Burden 2nd Biggest Concern
Bank Director survey finds regulatory compliance burden is second greatest concern (behind margin compression), with implementation of Dodd-Frank and the activities of CFPB listed as top specific regulatory concerns. [9/9]
- CFPB Poised to Ramp Up Oversight of Debt Collection Industry
Report that CFPB's director says agency will be looking to write new regulations under the Fair Debt Collection Practices Act (FDCPA). [9/9]
- CFPB Lays Out Expectations for Credit Info Suppliers
CFPB bulletin lays out expectations under Fair Credit Reporting Act: credit information suppliers are to maintain a system adequate for handling and investigating complaints, report the results to the consumer reporting agency, and modify, delete or block disputed info. [9/9]
- CFPB Doubling Down on Disputes
CFPB's sends a warning shot to furnishers of information to consumer reporting agencies. Potent FCRA and FACT Act principles and requirements that trigger need for stronger awareness (aka training) and tracking. [9/5]
- Federal Agencies Issue a Second Proposed Interagency Rule on QRMs
Although proposed rule issued by the FDIC, FHFA, FRB, Dept. of Housing and Development, SEC and the OCC does not directly affect credit unions, as participants in the mortgage market place they would likely feel the impact; proposed rule would make the definition of a âqualified residential mortgageâ consistent with the CFPBâs definition of a âqualified mortgage.â [8/29]
- Should the CFPB Be Telling Us How to Christmas Shop?
When the CFPB takes to cautioning about overspending at Christmas time, is it time for a million children march on Washington? [8/29]
