The Inspector General of the Federal Reserve has initiated an evaluation of the CFPB’s integration of enforcement attorneys into its examinations of banks and nonbanks.
Cole Taylor Mortgage is getting serious about the servicing business. It purchased a portfolio from Liberty Savings and plans to start its own in-house platform.
There is at least one curiosity in the GSE draft bill: any individual who ever served as a director of the Federal Housing Finance Agency is prohibited from serving as a board member on the new Federal Mortgage Insurance Corp.
The expansion of the CFPB’s consumer complaint database moved to another level last week, with the inclusion of state-by-state searchable information, as well as complaints about money transfers and credit reporting. The updates, among other things, add a new field to every complaint – the state it came from. While five-digit ZIP Code information – provided by the consumer – has always been included in the complaint information, adding the state helps people more easily localize data, according to the bureau. The state...
The Federal Reserve Board Office of Inspector General is putting the CFPB’s controversial use of enforcement attorneys in its examination process under the microscope, according to the OIG’s semiannual report to Congress. “We initiated an evaluation of the CFPB’s integration of enforcement attorneys into its examinations of banking and nonbanking institutions’ compliance with applicable consumer protection laws and regulations,” the OIG said. Its objectives for this evaluation are to assess the potential risks associated...
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