Menu
Banking Exchange Magazine Logo
Menu
CFPB - Banking Exchange
CFPB keeps on going ...

CFPB keeps on going ...

Despite hostile Republicans, consumer protection agency plows ahead
The CFPB has begun publicly exploring the gathering of data on lending activities with women- and minority-owned businesses. This type of data has been collected on mortgage lending for many years and given rise to fair-lending lawsuits.

CFPB delving into small-business fair-lending

Consumer agency presses forward with Dodd-Frank mandate to gather race and gender data
Prepaid cards have challenges from newer technology and compliance costs, but some surprising trends uncovered in a new study highlight continuing potential.

Pending rule spreads prepaid compliance “wealth”

Consumer protections to impact prepaid credit industry beyond old boundaries
A controversial agency comes under a controversial executive order.

Bureau comes under a Trump action

CFPB covered by executive order on plan for reorganizing executive branch
Compliance expert Lucy Griffin warns that pendulums swing both ways, and bankers who count on permanent change forget that at their peril.

Regulatory relief: When the pendulum swings ...

… be careful or it will smack you when it swings back
Alternative data—nontraditonal measures of creditworthiness—could help "credit invisible" people, but some see dangers in adoption of new measures.

Bureau turns up debate on “alternative data”

CFPB holds hearings, seeks comments on benefits, risks
By definition a complaints report does not focus on good news, but some servicers have seen decreases in complaint rates. Others,however, have seen increases.

Mortgage servicing featured in bureau complaint tally

Report unpopular in industry shows some positives for some servicers
Since its founding, the bureau has made a point of transparency, open government, consultation with affected groups, and more. Yet ultimately, says blogger Lucy Griffin, what it is emanates from a single official. How could its practices change under a multi-player board?

Replacing CFPB’s Director with a board

That’s a change bankers can now ask for. But it has to be an “ask,” not a “wish”
When systems go blooey, CFPB believes that can be a legal offense.

"Rush" to judgment?

Can tech breakdown be abusive and deceptive? CFPB says so
The bureau claims TCF worked to maximize opt-ins to debit overdraft services that came under a federal disclosure rule effective in 2010.

CFPB sues TCF for overdraft program

UDAAP violations cited over opt-in disclosures. Bank vows to defend practices
Page 6 of 14

Sections

About Us

Connect With Us

Resources

CSI: Hawthorn River
Lending Regulatory Compliance

WEBINAR: Tuesday, May 21st, 2024, 2:00 CT / 3:00 ET

Join us to learn more about leveraging technology in Hawthorn River to support your lending process and its regulatory compliance. From 1071, TRID, HMDA, CRA and more in the sea of regulatory acronyms, our end-to-end loan origination solution creates efficiency for financial institutions.

Join this session for an overview of the platform, an interactive Q&A and information about:

  • Transaction data collection
  • Portfolio level reporting
  • Loan Policies and more

REGISTER NOW!

This webinar is brought to you by:
OneSpan logo