Links in “CFPB”

At a town hall meeting with NCUA Chair Debbie Matz, CFPB Director Richard Cordray said that they are not planning to prohibit ODP fees as part of a proposed rule about overdraft protection practices. Cordray added they are still looking at the data and comments in order to determine where further restrictions may be needed in order to protect consumers. [2/11/15]

CFPB Director Richard Cordray spoke in an NCUA webinar Tuesday, emphasizing that many past and recent actions by the CFPB have been efforts to show support to credit unions and other small creditors. [2/11/15]

CFPB releases a study that finds consumers are confused by reverse mortgages. "It is essential that the terms, conditions and servicing of reverse mortgages be fair and transparent so that consumers can make informed decisions regarding their options." Stay tuned for further regulatory developments on this front. [2/10/15]

The CFPB recently issued a proposed rule that would, among other things, expand and modify the definition of a “small creditor.” See how these proposed changes might benefit your credit union. [2/10/15]

FTC sent its annual letter to the CFPB on its efforts to combat deceptive, unfair or abusive debt-collection practices. In 2014, it filed 10 new cases, resolved nine more, obtained $140 million in judgments, and banned 47 companies and individuals. [2/10/15]

The CFPB recently released a report outlining the most common consumer complaints regarding reverse mortgages. The report aims to inform consumers about the unique aspects of reverse mortgages in an effort to protect individuals from financial trouble. [2/10/15]

Not surprisingly, House Republicans and New York's top regulator have very different ideas on how the CFPB should revise its payday lending rules. [2/9/15]

Corinthian College is on the hot seat for conducting what the CFPB has defined as “predatory” lending. The current and former students of Corinthian College will be receiving a total of $480 million in debt relief. [2/4/15]

The CFPB is asking a federal district court to ban Union Workers Credit Services from offering any type of credit product or service after the company took part in a “bogus credit card operation.” [2/4/15]

CFPB recently proposed amendments to Reg. Z governing mortgages that would affect the definition of "small creditors" and the term "rural." Here's a rundown of what the CFPB has put on the table. [2/4/15]