Links in “CFPB”
- CFPB Growing, But Wants More
The number of CFPB employees grew from 1,443 in 2014 to 1,529 in 2015, but according to its recent financial report, the bureau is "still below the steady-state employment levels and funding" it needs to accomplish its mission. [11/19/15]
- Integrity Advance’s Integrity Takes a Hit
CFPB sues the online payday lender Integrity Advance for not fully disclosing that charges would continue to accrue after a borrower defaulted on a loan and for automatically debiting borrowers' bank accounts even after they stopped authorizing withdrawals. [11/19/15]
- CFPB Database: Where 1 Complaint Counts as 35
Some of the CFPB's own employees don't trust its complaint database. In one instance, a single complaint was counted as 35 different ones. The CFPB holds that mistakes are minor. [11/18/15]
- Online Lending: What Compliance Measures are in Place to Protect Small Businesses?
The ranking Democrat on the House Small Business Committee intends to find out. She wants the CFPB and the SEC to answer her five questions. [11/17/15]
- The CU Difference and Why it Should Be Considered in Arbitration
"Since credit unions have this unique relationship with members, they are more likely to know their members, and are able to resolve conflicts in a quick and amicable fashion," CUNA told the CFPB's Small Business Advisory Panel in regards to the bureau considering proposals on arbitration agreements. [11/16/15]
- NY Times Weighs in on Anti-CFPB Ad
New York Times couches the anti-CFPB commercial that ran in the GOP presidential debates as part of a larger, well-funded campaign to fight efforts to restrict arbitration clauses. [11/16/15]
- Beware of PARRs: CFPB’s Revisions to its Appeals Process
The revised appeals process does not permit an appeal of adverse findings related to a recommended or pending investigation or public enforcement action until the investigation or action has been resolved. This highlights the importance of preparing a compelling response to notices of Potential Action and Request for Response letters, which the bureau sends out after an examination to inform the financial institution it is considering taking supervisory action. [11/16/15]
- CFPB Releases New Tool for Retirement
The CFPB has released an interactive online tool entitled âPlanning for Retirement,â designed to help consumers decide when to claim their Social Security retirement benefits. The tool follows a CFPB report that notes the impact of claimant age and benefits under social security and promotes efforts to give enhanced insights and options regarding retirement planning. [11/13/15]
- Plan Now to Include Inclusion and Diversity in Self-Assessments
CFPB's Diversity and Inclusion Strategic Plan for 2016-2020 is out. Time to begin taking steps to incorporate them into daily business practices and plan for your self-assessments. [11/12/15]
- Was the Anti-CFPB Ad Too Over the Top?
Though undeniably well-done, an Orwellian anti-CFPB ad that ran during the Republican presidential debate last night was so over the top, it is likely to backfire, some observers believe. (Yes, those are pictures of CFPB Director Cordray and Sen. Warren on the large red banners in the back.)Â The ad, which portrays the CFPB as a Stalinist nightmare, ends with the message "Tell Congress to stop the CFPB." (See the ad here.) [11/11/15]
