Links in “CFPB”

The director of the CFPB's fair lending office says that fair lending for small business loans is on the CFPB's radar and is the fourth fair lending product priority (after mortgages, auto loans, and credit cards). [10/13/15]

The CFPB can usually count on solid support from one side of the aisle, but when it came time for the House to vote on implementing a formal grace period for the CFPB's TILA-RESPA Integrated Disclosures rule, nearly one-third of House Democrats voted in favor of it. Here's why. [10/9/15]

The CFPB posted a much anticipated bulletin aimed at providing guidance to the mortgage industry regarding marketing services agreements (MSAs). The bulletin offers an overview of the federal prohibition on mortgage kickbacks and referral fees, and describes examples from the CFPB’s enforcement experience as well as the risks faced by lenders entering into these agreements. The CFPB expresses grave concern over MSAs and issues strong warnings noting the legal and regulatory risk for lenders utilizing MSAs. [10/9/15]

Richard Cordray of the CFPB spoke at a meeting of the Credit Union Advisory Council addresses key aspects of payment systems emphasizing primary concerns of transparency, security, and access. [10/9/15]

The CFPB says it should become a positive force for credit unions. CUNA agrees, but says this will only be the case if the CFPB focuses its rulemaking and enforcement actions on the bad actors and not by imposing additional regulatory and compliance burdens on the good actors, like credit unions. [10/6/15]

Three big agencies (CFPB, Education and Treasury) have teamed up to present a framework for standardizing servicing in the student loan sector. They targeted four key areas for reform to ensure that student loan servicing is consistent, accurate and actionable, accountable, and transparent. Here's what they mean by that. [10/6/15]

Consumer Reports applauds the CFPB for its moves in mortgage disclosures and for its anticipated moves to help student loan borrowers. [10/6/15]

The dreaded TILA-RESPA Integrated Disclosure rule became effective over the weekend on October 3^rd. Last Friday the CFPB released a letter informing institutions how this new rule will be handled during initial examinations. [10/5/15]

October doesn't just bring Halloween this year, but the long anticipated TILA-RESPA Integrated Disclosure rule (TRID). Following in the CFPB’s footsteps, the FDIC has provided guidance of its own in connection with the new rule and how initial examinations for compliance with this rule will be handled. [10/5/15]

Testifying before the House Committee on Financial Services, CFPB Director Cordray address a wide range of the bureau's activities, including these six noteworthy topics. [10/2/15]