Links in “CFPB”
- CFPB Emphasizes Fair Lending
The CFPB's efforts to ensure fair access to credit continue! This report outlines key supervision and enforcement actions over the last year, and provides access to the most recent Fair Lending Report. [4/29/15]
- Reading the CFPB’s Tea Leaves
A panel discussion in New York City provides glimpses into what's coming up on the CFPB's radar, from whistleblower provisions, what non-bank industry is next, and where debt collection rules are heading. [4/29/15]
- Why $50 Million in Illegal Overdraft Fees = Only a $7.5 Million Fine
$119-billion Regions Bank in Alabama charged nearly $50 million in illegal overdraft fees, but was hit with only a $7.5 million fine after it discovered the error, reported it to the CFPB and began refunding the fees. [4/29/15]
- CFPB Slowdown: A Reason to Worry?
This may sound like good news to the handful of credit unions that are directly examined by the CFPB, but industry experts suggest that the motive may be more political than practical and could affect other credit unions. They claim the CFPB could be positioning itself to use its self-created backlog to pressure Congress for an increased budget and, possibly, expanded examination authority. [4/24/15]
- Cut CFPB Funding? White House Says No
White House advisors would recommend that President Obama veto a bill that would reduce CFPB funding. [4/24/15]
- ECOA Alive and Kicking
As of the end of 2014, DOJ and the CFPB were conducting 10 joint fair lending investigations. The investigations involve race, national origin, sex, marital status, age and source of income. In addition, each agency has its own set of investigations it is conducting. [4/24/15]
- CFPB Testifies on Efforts and Future
CFPB's Silberman provides testimony before a Subcommittee on Financial Institutions and Consumer Credit and touts the CFPB's work to strengthen the nation's financial system in efforts to serve consumers, promote responsible businesses, and improve the overall economy noting $5.3 billion in relief to consumers. Discussion on a regulatory implementation program for the integrated disclosure rule is also promoted. [4/24/15]
- FDIC and CFPB Launch Resources for Financial Education
In partnership, the FDIC and the CFPB launched "Money Smart for Young People", a free resource series of lesson plans and resources for teachers and  parents to improve financial education for children by teaching them about managing money and decision-making skills. [4/24/15]
- Cordray Signals Continued Emphasis on Student Loans
In a speech to college presidents, CFPB Director Cordray indicated that the bureau's focus on student loan issues isn't going away anytime soon. 8 million Americans are now in default on their students loans. Cordray sees strengthening servicing as the key to getting the growing problem of defaults under control. [4/23/15]
- Budget Amendment Fuels Fight Over CFPB
A bipartisan measure that would codify advisory boards at the CFPB for community banks and credit unions divided down party lines when an amendment was added that would call for cuts to the CFPB's budget. Partisan bickering ensued. [4/23/15]
