CFPB Issues Request For Information On Supervision Processes
The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) about the Bureau’s supervision processes.
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CFPB Issues Request For Information On Enforcement Processes
The Consumer Financial Protection Bureau (CFPB) today issued a Request for Information (RFI) about the Bureau’s enforcement processes.
CFPB Issues Request For Information On Administrative Adjudications
The Consumer Financial Protection Bureau (CFPB) today issued a Request for Information (RFI) about administrative adjudications. The Bureau is seeking to better understand the benefits and impacts of its use of administrative adjudications, and how its existing process may be improved.
CFPB Finalizes Rule To Stop Payday Debt Traps
Lenders Must Determine If Consumers Have the Ability to Repay Loans That Require All or Most of the Debt to be Paid Back at Once.
Prepared Remarks of CFPB Director Richard Cordray on the Payday Rule Press Call
After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans.
CFPB Warns Companies Against Tricking Consumers Into Expensive Pay-By-Phone Fees
Bureau Concerned About Companies Misleading Consumers About Pay-By-Phone Fees, Keeping Them in the Dark About Much Cheaper Options.
CFPB Warns Financial Companies About Sales and Production Incentives That May Lead to Fraud or Consumer Abuse
Unchecked Incentives Can Produce Unauthorized Account Openings, Deceptive Sales Tactics, and Other Illegal Practices.
CFPB Issues Supervisory Compliance Bulletin
Bulletin Reminds Companies of Existing Legal Responsibilities Regarding Treatment of Confidential Supervisory Information The Bureau issued a bulletin today...
Prepared Remarks of CFPB Deputy Director Steve Antonakes at the American Bankers Association Regulatory Compliance Conference
Thank you for the opportunity to speak with you today. I know that both those of us at the Bureau and those of you here today share common goals: a strong...
Meredith Fuchs Before the House Committee on Financial Services
Testimony of Meredith Fuchs General Counsel, CFPB Chairman Hensarling, Ranking Member Waters, and Members of the Committee...
CFPB Takes Action Against Castle & Cooke for Paying Employees to Steer Consumers into Expensive Mortgages
The CFPB alleges that the company violated the rule with its quarterly bonus program, which paid more than 150 Castle & Cooke loan officers greater bonus...
CFPB Releases Exam Procedures for New Mortgage Rules
The exam procedures offer financial institutions and mortgage companies valuable guidance on what the CFPB will be looking for as the rules become...
CFPB to Hold Auto Lenders Accountable for Illegal Discriminatory Markup
Potentially discriminatory markups in auto lending may result in tens of millions of dollars in consumer harm each year, and the bulletin provides guidance to indirect auto lenders within the CFPB’s jurisdiction on how to address fair lending risk.
Consumer Financial Protection Bureau Warns Mortgage Servicers About Legal Protections for Consumers When Transferring Loans
When handing over the processing of loans, mortgage servicers should not lose paperwork, lose track of a homeowner's loss mitigation plans, or hinder a...
CFPB Releases Exam Procedures for Student Loans
The Student Lending Examination Procedures are an extension of the CFPB's General Supervision and Examination Manual and will be used as a field guide by...
CFPB Extends Effective Date for New Mortgage Disclosures
The Dodd-Frank Act required that the CFPB integrate certain disclosures from the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act...
CFPB Report Highlights Problems in Market Discovered Through Supervisory Actions
"This report underscores our work to address practices that are risky to consumers, as well as our continued commitment to making sure that institutions are...
CFPB Releases Exam Procedures for Consumer Reporting Market
The examination process will be an ongoing process of pre-examination scoping and review of information, data analysis, onsite examinations, and regular...
CFPB Makes International Money Transfers Easier for Certain Financial Institutions
The rule implements new protections under the Dodd-Frank Wall Street Reform and Consumer Protection Act that require remittance transfer providers to...
Agencies Sign Memorandum of Understanding on Supervisory Coordination
Such coordination includes scheduling examinations, conducting simultaneous examinations of covered depository institutions unless an institution requests...
FFIEC Implements New InfoBase Technology for The Information Technology Examination Handbook
The IT Handbook consists of 11 booklets covering a variety of technology and technology-related risk management guidance for financial institutions and...
CFPB to Hold Financial Institutions and their Service Providers Accountable
The Bureau will take a close look at service providers' interactions with consumers. It will hold all appropriate companies accountable when legal...
Consumer Financial Protection Bureau proposes rule for the protection of privileged information
The proposed rule is intended to provide supervised entities further assurances that providing privileged information to the Bureau will not adversely...
CFPB Seeks Input on Streamlining Inherited Regulations
The Notice and Request for Information issued by the CFPB asks the public to identify provisions of the inherited regulations that the agency should make...
Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities For Federal Consumer Financial Laws
Under section 1025 of Dodd-Frank, the Bureau has exclusive authority to examine for compliance with federal consumer financial laws and primary authority to...