Changes could be coming to the CFPB’s QM rule. Then again, maybe not. Meanwhile, second-quarter earnings season starts soon, giving us a look into originations and MSR marks at the megabanks.
Industry trade groups said a separate role for the CFPB when it comes to reviewing bank mergers was unnecessary and would be outside of the bureau’s authority.
Monthly mortgage statements that contain language suggesting they are attempts to induce payment on a debt can be construed as a debt-related communication under the Fair Debt Collections Practices Act.
The CFPB wants to know if employees have a real choice when such products show up in the course of their work, and whether such debt prevents them from seeking better-paying employment.