Links in “CFPB”
- CFPB Should Be Blocked From Finalizing Restrictions on Arbitration Clauses
CUNA and other business representatives have sent a letter to the members of the Senate and House appropriations committees stating that the CFPB failed to study the impact of restricting arbitration clauses. The letter urges lawmakers to block the CFPB from finalizing its rule until a thorough study has been conducted. [12/2/15]
- Is CFPB’s Push to Reform Auto Finance Even Legal?
When Dodd-Frank was being formed, auto dealers had successfully lobbied to deprive CFPB jurisdiction over auto dealer financing. But that hasn't stopped the CFPB. What happened? [12/2/15]
- Did Wells Fargo Just Give an Open Invitation to OCC, Fed and CFPB?
Wells Fargo argued that Los Angeles' city attorney does not have jurisdiction to take the bank to court over its alleged "aggressive sales tactics" that were highlighted in a recent L.A. Times investigation. According to the Wall Street Journal, now the OCC and Fed Reserve are looking into the allegations. The CFPB may not be far behind. [12/2/15]
- Key Takeaways of CFPB’s Mobile Financial Services Report
Buried within the lengthy CFPB report are some key opportunities outlining the potential for mobile devices to improve access and services to the underserved. But it also draws attention to some of the risks presented by reliance on mobile financial services. [12/1/15]
- CFPB’s Agenda Calls for “Business HMDA” Headaches
The CFPB's regulatory agenda for next year includes collecting data on lending to women-owned, minority-owned, and small businesses. Please pass the Advil. [12/1/15]
- House GOP Report Calls CFPB’s Ally Settlement a “Shakedown”
Republicans on the House Financial Services Committee issued a report that called the CFPB's methodology for determining discrimination at Ally Financial  "junk science," saying the CFPB went after the lender because it knew it would settle quickly. The committee chair called the settlement "a shakedown" by "a dangerously out-of-control agency." [11/30/15]
- Scrutiny of Online Lenders: On the Agenda or Not?
While online marketplace lenders were noticeably absent from the CFPB's recent rulemaking agenda, recent actions make it clear that they are still high on the bureau's enforcement agenda. [11/30/15]
- CFPB Spotlight on Deposit Accounts
The CFPB's complaint report highlighted deposit accounts this month, which make up about 10% of the total complaints it receives. About 44% of those complaints had to do with account management, such as consumers unable to open an account and uncertain as to why. [11/30/15]
- Webinar – HMDA Blows Up: What You Need to Know About the CFPBâs Game-changer
Still reeling from the new TILA-RESPA Integrated Disclosures, mortgage lenders got about a five-minute breather before the next big bombshell hit: the CFPBâs amendments to the Home Mortgage Disclosure Act. While the regulation has been around since the mid-70s, the 2015 amendment is a game-changer. In this webinar, held on Dec 3, 2015 at 1:00 pm Eastern, AffirmXâs Jane Pannier will help get you up to speed with what you need to know and why itâs not too soon to start mobilizing the troops. [11/25/15]
- CFPB Compliance Bulletin Focus is on Automatic Debits
The latest CFPB Compliance Bulletin reminds financial institutions about the regulatory requirements for pre-authorized debits under Regulation E and identifies some best practices regarding consumer notifications. The issue also contains a snapshot of this monthâs consumer complaints, focusing on concerns about opening and closing accounts, dispute resolutions, and check holds. [11/25/15]
