CFPB Supervision Report Highlights Risky Practices in Student Loan Servicing
Examiners Also Uncover Violations of Mortgage Servicing Laws The Bureau today issued a report highlighting illegal actions uncovered by the Bureau's...
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CFPB Proposes New Federal Oversight of Nonbank Auto Finance Companies
Bureau Supervision Uncovers Auto-Lending Discrimination at Banks and Obtains $56 Million for Harmed Consumers.
CFPB Warns Credit Card Companies Against Deceptively Marketing Promotional Offers
The Consumer Financial Protection Bureau (CFPB) warned credit card companies against deceptively marketing interest-rate promotions.
CFPB Supervision Report Highlights Risky Practices In Nonbank Markets
Overall CFPB Supervision Activities Return More than $70 Million to 775,000 Consumers The Bureau today issued a report highlighting illegal actions...
CFPB Supervision Report Highlights Mortgage Servicing Problems In 2013
The Bureau today issued a report highlighting problems like unfair and deceptive practices in the mortgage servicing market uncovered through the Bureau's...
Written Testimony of Director Cordray Before the Senate Committee on Banking, Housing and Urban Affairs
Chairman Johnson, Ranking Member Crapo, and Members of the Committee, thank you for inviting me to testify today about the fourth Semi-Annual Report of the...
CFPB Releases Second Update of Exam Procedures for Mortgage Rules
Many of the new rules were directed by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules cover the various stages of a...
The CFPB Issues Procedural Rule on Supervising Nonbanks that Pose Risks to Consumers
Nonbanks subject to the rule are companies that offer or provide consumer financial products or services but do not have a bank, thrift, or credit union...
The CFPB Establishes Framework to Better Coordinate with State Regulators
The framework will apply in situations where the CFPB and state regulators share concurrent supervisory jurisdiction.
CFPB Statement on Deposit Advance Product Announcements by Banking Regulators
These statements addressed risks associated with these short-term, small-dollar loans. The Bureau also sees significant consumer risks and looks forward to...
CFPB Proposes Rule to Oversee Nonbank Student Loan Servicers
Today's proposed rule would expand that supervision to certain nonbanks. The rule would define certain nonbank student loan servicers as "larger...
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...
Consumer Financial Protection Bureau issues warning to nationwide specialty consumer reporting agencies
"Today, the CFPB is reminding these companies that they must follow the law and provide consumers with easy access to their free annual report. If we have...
Consumer Financial Protection Bureau Warns Companies Against Misleading Consumers with False Mortgage Advertisements
Today's actions stem from a joint "sweep," a review conducted by the CFPB and the FTC of about 800 randomly selected mortgage-related ads across the...
Federal Housing Finance Agency and Consumer Financial Protection Bureau to Partner on Development of National Mortgage Database
The database will primarily be used to support the agencies' policymaking and research efforts and to help regulators better understand emerging mortgage...
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...
Consumer Financial Protection Bureau and prudential regulators issue joint guidance to address mortgage servicer practices that impact servicemembers
The guidance, which is intended to ensure compliance with applicable consumer laws and regulations, pertains to military homeowners who have received...
Agencies Sign Memorandum of Understanding on Supervisory Coordination
Such coordination includes scheduling examinations, conducting simultaneous examinations of covered depository institutions unless an institution requests...
CFPB Proposes Procedural Rule on Supervising Nonbanks that Pose Risks to Consumers
"This is an important step in the development of our nonbank supervision program," said CFPB Director Richard Cordray. "This proposal allows us to reach...
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 Launches Inquiry into Overdraft Practices
As part of that inquiry, the CFPB is seeking public input on a prototype "penalty fee box" – a disclosure on a consumer's checking account statement that...
Consumer Financial Protection Bureau, Federal Trade Commission pledge to work together to protect consumers
"Entering this agreement with the FTC is important to making sure markets for consumer financial products are getting efficient and effective federal...
CFPB Examines Payday Lending
The hearing coincides with the publication of the Bureau's Short-Term, Small-Dollar Lending Procedures – a field guide CFPB examiners will use to make sure...
CFPB Releases Mortgage Origination Examination Procedures
These procedures are a field guide for CFPB examiners looking at mortgage originators in both the bank and nonbank sectors of the industry.