Consumer advocates are largely pleased with the proposal while lenders sounded alarms. The CFPB acknowledged that the data collection will prompt significant costs.

The payment provisions under the payday lending rule will become effective June 13, 2022. Attorneys suggest lenders with products covered under the small dollar rule begin revising policies and procedures.

Wells Fargo’s problems with the CFPB are now in the rear-view mirror, but the megabank has considerable OCC exposure. For starters, it cannot buy mortgage servicing rights.

A recent coordinated action by the DOJ and OCC against an Atlanta-based mortgage lender for redlining practices appears to be a harbinger of things to come under the Biden administration.

Sanctioned once before by the CFPB, it could be the end of the line for an Oakland-based payday lender that caters to employees of the military.

The settlement would end a class action filed against Sierra Pacific Mortgage for allegedly receiving illegal payments in exchange for referrals of title work.

Georgia residents submitted 825.2 complaints per million people against financial service providers in the second quarter of 2021. (Includes data chart.)

Chopra’s CFPB appointment gets closer; John Coleman joins private sector; OCC officially proposes rescinding its 2020 CRA rule; CFPB releases filing instructions for 2022 HMDA data collections.

Federal bank examiners adopted a flexible and balanced approach to conducting examinations with a goal to ensure the resiliency of banks while not slowing down the flow of credit.

Two recent lawsuits show the value of carefully drafting agreements with employees to arbitrate claims.