Links in “CFPB”
- New TRID Delay, But This Time for 2 More Days
Following its announcement on June 17 of a two-month delay of the effective date of the new TILA-RESPA Integrated Disclosures rule to Oct. 1, the CFPB has announced an additional two-day delay to Oct. 3, a Saturday. [6/25/15]
- Illegal Practices found through CFPB Supervision
The latest CFPB supervision report outlines illegal practices found in the first four months of 2015. Supervisory resolutions across industries have recovered $11.6 million for more than 80,000 consumers. Â [6/24/15]
- Highlights from CFPB’s Supervisory Report: Runarounds and Illegal Dual-Tracking
The CFPB is "extremely concerned" about lingering compliance failures one year after its mortgage servicing rules went into effect. [6/24/15]
- TRID Delay: Does it Mean Less CFPB “Sensitivity” After Oct. 1?
The two-month delay of the effective date of the TILA-RESPA Integrated Disclosure date was clearly welcomed by the industry. What is less clear is whether the CFPB's earlier pledge to be "sensitive" to the good faith efforts to comply with the new rules will still apply. [6/24/15]
- Cosigner Releases Hard to Obtain for Private Student Loans
According to a report just published by the CFPB, 90% of cosigners who apply to be released from their obligation on private student loans have those requests rejected. IN addition, the CFPB found that most of the loan contracts put the loan in default when a cosigner dies or goes bankrupt, even if the loan is in good standing. [6/23/15]
- CFPB Asks Google To Help Stop Student Scammers
The CFPB has sent a letter to Google warning that debt-relief scammers may be targeting student borrowers through the companyâs search engine when they search and use keywords, such as âstudent loan default.â The CFPB sent similar letters to Bing, Facebook, and Yahoo. [6/23/15]
- Whistleblower Retaliation at CFPB? House Subcommittee to Investigate
A subcommittee of the House Financial Services Committee will investigate allegations that the CFPB discriminated against employees and then retaliated against whistleblowers. [6/23/15]
- CFPB’s Efforts to Stimulate Student Loan Complaints a Success
The CFPB reports it has received 34% more private student loan complaints than last year, not surprising given its efforts over the last year to stimulate complaints. [6/23/15]
- CUNA Seeks Clarity on TRID Discrepancy
In a letter to the CFPB, CUNA has asked for a clarification regarding a discrepancy in the TILA RESPA Small Entity Compliance Guide, which states that the integrated disclosure requirement does not apply to an entity that makes five or fewer mortgage loans in a calendar year. [6/22/15]
- TRID Delay Tied to Busy Time of School Year
One reason cited by the CFPB's director for the proposed delay of the effective date of the TILA-RESPA Integrated Disclosure rule was that the delay would "better accommodate the interests of many consumers and providers whose families will be busy with the transition to the new school year at that time." [6/22/15]
