Links in “CFPB”

The CFPB provides plenty of tools for users of the consumer complaint database, now featuring complaint narratives, to share the items via social meet, such as on Facebook, Twitter or email. One way to help avoid seeing the scales tipped totally the other way is to solicit feedback from consumers before they feel that turning to the CFPB is their only choice. What's more, customers with positive experiences could become evangelists for the financial institution. [7/13/15]

The CFPB has restated guidance on providing mortgage applicants with a list of homeownership counseling organizations. The Bureau has also added further guidance for mortgage lenders in this interpretive rule. What was added? AffirmX Analyst Henry Miles breaks down what the CFPB now expects from mortgage lenders. [7/10/15]

The CFPB believes that new electronic payment systems need to be secure, transparent, accessible, and affordable to consumers. To that end the CFPB has released recommendations to the private sector for the development of new payment systems that will, among other things, provide consumers with more control over individual payments, allow consumers the ability to determine what data may be transferred with a transaction, and allow for real-time access to information about transaction status, risks, and costs. [7/10/15

ABA sends its comment in to the CFPB about the proposed extension of the TILA-RESPA Integrated Disclosures rule to Oct. 3 by proposing a 3-month period following the proposed extension date of restrained enforcement and liability. [7/10/15]

The Office of Inspector General has released its work plan for the next four quarters. It includes a security review of the CFPB's website, its information security program, its contract awarding process, and the headquarters renovation project. [7/10/15]

The CFPB outlined a number of guiding principles for protecting consumers as the private sector develops newer, faster payment systems. The principles are largely aimed at influencing industry standards to promote security, transparency, error resolution, accessibility, and affordability. The capacity of the CFPB to enforce its will on payment system providers is partially indirect, but that does not mean the Bureau is without options and thereby suggests the need for industry consideration of its noted message. [7/10/15]

CFPB's Director Richard Cordray referenced the GAO's report on financial literacy in the workplace and the reports discussion on the role of employers in improving employees’ financial well-being. The report notes the CFPB's commitment to encouraging employers to promote financial wellness at work and gain understanding to financial questions. [7/10/15]

The CFPB and the Attorneys General from 47 states and D.C. are going after JPMorgan Chase for selling "zombie" credit card debt and illegally robo-signing court documents. Chase was ordered to stop collecting, enforcing in court, or selling more than 528,000 consumers’ accounts. In addition to the $30 million civil penalty to the OCC, Chase will pay at least $50 million in consumer refunds and$136 million in penalties and payments to the CFPB and states. Yeah... not a good day. [7/9/15]

The CFPB hits JPMorgan Chase for $136 million to settle claims that it used abusive tactics to collect debts. "This is another failure by Chase to comply with the law." [7/9/15]

The CFPB releases a report of more than 1,300 complaints from military borrowers having trouble with their student loans. [7/8/15]