Links in “CFPB”
- CFPB Hopes to Nip TILA-RESPA Disclosure Confusion in the Bud
The third TILA-RESPA Integrated Disclosures webinar will be held Wednesday, October 1, 2014. The session will focus on both compliance and interpretive questions and implementation challenges. [9/22/14]
- Cordray Extends Invitation
Love discussing overdrafts and consumer complaints? Then this meeting is for you! [9/22/14]
- Cordray Drives Home the Need for Auto Finance Oversight
CFPB Director Richard Cordray shared an address at the Auto Finance Field Hearing regarding the need for regulatory oversight of the auto financing industry at the federal level. He explained, "given the significance and breadth of this market, it is critical that we keep a watchful eye on how consumers are being treated." Cordray went on to underscore the weight of this industry, stating that many consumers choose to pay their auto loan before credit card or mortgage loans. [9/19/14]
- Despite Industry Objections, CFPB Gets Go-Ahead for Consumer Arbitration Study
Office of Management and Budget approves CFPB's request to conduct a survey of consumers about the use of mandatory pre-dispute arbitration agreements. The survey, which the industry found flawed, has been revised, but is still considered by many in the banking industry to be stacked against it. [9/19/14]
- CFPB Painting the Earth with Regulations
Presenter at conference on the costs of compliance looks at CFPB as the "Sherwin-Williams of regulators." Sherwin-Williams' logo is a can of paint covering the earth. [9/19/14]
- Don’t Expect CFPB to Back Down from Expansion Plans for Complaint Database
Industry observer suspects that CFPB sees its mandate going beyond UDAAP and into "improving customer service." [9/19/14]
- Auto Lenders Underwhelmed by CFPB’s Report
Auto lenders find the CFPB's guidance on its methods for identifying discrimination in auto loans lacking. [9/19/14]
- What’s in a Name? For the CFPB, Everything.
The CFPB has published its methodology for assessing fair lending aspects in non-mortgage lending products. Find out how the bureau uses a Bayesian Improved Surname Geocoding (BISG) proxy method to utilize the applicant's surname and geography to estimate the appropriate race and ethnicity. [9/18/14]
- Consumer Complaint Narratives: Don’t Forget to Comment
CUNA would like to remind credit unions that their comments on the proposed consumer complaint narratives are needed by September 22. Make your voice heard. [9/18/14]
- CFPB to Nonbank Auto Lenders: You’re Next
The CFPB, in an historic move, has proposed to oversee large nonbank auto finance companies for the first time. Director Cordray says, "many people depend on auto financing to pay for the car they need to get to work," justifying the bureau's proposed expansion of oversight. [9/18/14]
