The CFPB has entered into a settlement with a group of offshore payday lenders who allegedly engaged in deceptive and unfair marketing and billing activities.
State authorities will focus their enforcement actions this year on tackling redlining and unfair, deceptive and abusive acts or practices in order to fill the enforcement gap created at the federal level, industry attorneys predicted.
Consumer groups have called on the CFPB to oppose a regulatory proposal which will significantly expand the number of non-agency mortgages that will not need a full appraisal.
Mortgage complaints filed with the CFPB declined over the past two years, and the most-criticized category was mortgage servicing, according to a new snapshot. [Includes one data chart.]
The CFPB recently provided informal guidance in the form of frequently asked questions, addressing issues related to the integrated mortgage disclosure rule.
Congressional lawmakers are placing credit bureau reform in the spotlight with a hearing scheduled before the House Financial Services Committee this month.
The CFPB may scrap the underwriting requirements of its 2017 payday lending rule, according to a proposal released last week. In the meantime, the rule’s compliance date has been pushed back to Nov. 19, 2020, from Aug. 19, 2019.
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