The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019.
The Consumer Financial Protection Bureau (CFPB) and Federal Reserve Board today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2020.
The Consumer Financial Protection Bureau today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for mortgages purchased or guaranteed by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, in the Bureau’s Ability to Repay/Qualified Mortgage (ATR/QM) Rule.
The Consumer Financial Protection Bureau (Bureau) today issued a final rule to help mortgage servicers communicate with certain borrowers facing bankruptcy. The final rule gives mortgage servicers more latitude in providing periodic statements to consumers entering or exiting bankruptcy, as required by the Bureau’s 2016 mortgage servicing rule.
The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) issued a final rule detailing the method that will be used to adjust the thresholds for exempting certain consumer credit and lease transactions from the Truth in Lending Act and Consumer Leasing Act.