Links in “CFPB”
- CFPB Sets Sights on Small Business
The CFPB blogs about its rule making process associated with small businesses, small government, and organizations as mandated under Dodd-Frank. The blog notes that the rule making process will include feedback from consumers, consumer advocates, other regulators, and industry representatives. [3/27/15]
- CFPB Releases 4th Annual Report on Fair Debt Collection
The CFPB released its fourth annual report summarizing activities to administer the Fair Debt Collection Practices Act (FDCPA). The 70 page report highlights joint efforts of the CFPB and the FTC during 2014 related to complaints submitted, enforcement actions, rule making, and educational efforts taken and planned. [3/27/15]
- CFPB on Payday Lending: It’s a Trap!
The CFPB is considering proposals to prevent and provide protection against payday debt traps related to short-term loans and longer-term loans. Prevention proposals would require the lender to determine at the outset of the loan that the borrower has the ability to repay the loan. Protection proposals would require lenders to provide affordable payment options. [3/26/15]
- Where CUs and the CFPB Could Meet
While there may be much about the CFPB that gives credit unions heartburn, they both share something in common: both have as their touchstone a focus on consumer impact. [3/26/15]
- Publishing Unverified Complaints Misses the Point
The CFPB's policy of allowing unverified consumer complaint narratives is a perfect example of white noise overshadowing facts. [3/26/15]
- Payday Loans: Study Refutes CFPB’s Payment-to-Income Ceiling Concept
The CFPB's proposed revisions to payday lending are expected to include a payment-to-income ratio ceiling. This study shows why that may be a bad idea, as well as detrimental to the borrowers such a proposal is meant to protect. [3/26/15]
- Payday Loan Reform Proposal Expected Today
The CFPB is expected to release its proposal for sweeping reforms to the short-term loan business today. [3/26/15]
- Chart-topping Webinar Now Available!
A recorded webinar featuring NCUA's Debbie Matz and CFPB's Richard Cordray is now available online. Featuring topics ranging from RESPA/TILA to international remittances, you don't want to miss this one! [3/25/15]
- CFPB on Consumer Complaint Narratives: Keep them Secret, Keep them Safe
The CFPB has issued a final policy statement regarding its plans to discretely disclose consumer complaint narrative data to the public. Additionally, the CFPB has issued a request for information related to the collection and sharing of such complaint narratives. [3/25/15]
- CUNA Says CFPBâs Proposed Rule on Prepaid Accounts May Have Adverse Consequences
In a comment letter to the CFPB regarding its proposed rule on prepaid accounts, CUNA warns that applying Regulation E to prepaid accounts may not be appropriate and could result in these types of accounts being less accessible, particularly by the underserved. [3/24/15]
