A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs).
It is an honor to be here to commemorate Joanne Alter, whose commitment to meaningful change – both inside and outside of government, despite all odds –...
Welcome to this call to discuss a new report from the Bureau on financial education. I'm Camille Busette, Assistant Director of the Office of Financial...
The Consumer Federation of America has been one of our foremost and fiercest allies for consumers. I would like to thank everyone here for your leadership...
On May 4, 2022, the Bureau issued a consent order against Bank of America, N.A., an insured depository institution, to address Bank of America’s processing of garnishment notices.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Regarding the Proposal to Strengthen the Resilience of America’s Largest Banks.
It is indeed an extreme pleasure to be able to experience the true nature of summer here in El Paso in the middle of July. And it is also a pleasure to...
Director Chopra submitted this statement for the record in connection with a closed meeting of the FDIC Board of Directors held on November 12, 2024.
The United States recently renewed its special ties with the Federated States of Micronesia, the Republic of the Marshall Islands, and Republic of Palau, collectively the Freely Associated States.
On May 7, 2024, the Bureau issued an order against Chime Financial, Inc. (Chime), a financial-technology company that designed and services consumer banking accounts for two separate FDIC-insured “partner banks.”
We are glad to be in New Orleans today, a vibrant city of many different proud cultures. As it has been said, this city is "like a big musical gumbo." I am...
This rule amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Act. This rule amends the official commentary that interprets the requirements of the Bureau’s Regulation Z (Truth in Lending) to reflect changes in the asset-size thresholds for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan. These changes reflect updates to, together with affiliates that regularly extended covered transactions secured by first liens, had total assets of less than $2 billion (adjusted annually for inflation) and the exemption the Bureau added, by implementing section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), for certain insured depository institutions and insured credit unions with assets of $10 billion or less (adjusted annually for inflation). These amendments are based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Today I am pleased to announce that the Federal Deposit Insurance Corporation and the Bureau are putting $200 million back into the pockets of more than 3.5...
CFPB Director Rohit Chopra's statement on Relationship Banking and Customer Service.
The amendments require the CFPB to publish a single, integrated model disclosure for mortgage loan transactions that includes disclosure requirements of...
I have seen firsthand how the success of community banks benefits the people who live in those communities, where the bankers themselves also live and work.
This notice proposes changes to the Remittance Rule to mitigate the expiration of an exception that allows insured institutions to estimate certain costs associated with sending a remittance transfer to increase the normal course of business safe harbor.
CFPB General Counsel Seth Frotman spoke at the Poverty Law Conference about consumer financial law and low-income families.
CFPB, OCC, and FDIC Take Action Against Bank For Ignoring Deposit Discrepancies Today the Bureau, the Federal Deposit Insurance Corporation (FDIC), and the...
