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Inside the CFPB
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Credit Reporting Bills Pass House Committee

July 15, 2019
Yemeng Yang
The House Financial Services Committee passed four bills aimed at reforming the credit reporting system. They are expected to pass the full House, but their fate in the Senate is uncertain.
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State AGs Seek Continuation of Overdraft Rule

July 15, 2019
Yemeng Yang
State attorneys general and industry groups, in rare alignment, are suggesting the CFPB continue with the current overdraft rule.
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Other News in Brief

July 15, 2019
Yemeng Yang

Congress Questions Bias in Lending Algorithms

July 1, 2019
Yemeng Yang
The House Financial Services Committee’s task force on artificial intelligence recently held its first hearing. Lawmakers asked about ways to make sure that algorithms don’t discriminate.
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CFPB Constitutionality Challenge May Reach SCOTUS

July 1, 2019
Yemeng Yang
Seila Law has now asked the Supreme Court to decide whether the CFPB’s structure is constitutional. The law firm lost before the U.S. Court of Appeals for the Ninth Circuit on the same issue.
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Experts Divided on ‘Abuse’ Standards

July 1, 2019
Yemeng Yang
Industry attorneys are starkly divided on whether and how the CFPB should define the meaning of “abusive” acts and practices.
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FDCPA Statute of Limitations Should Run Longer?

July 1, 2019
Yemeng Yang
The CFPB under the leadership of Director Kathy Kraninger filed its first amicus brief, weighing in on issues related to the one-year statute of limitations under the Fair Debt Collection Practices Act.
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Maine Adds New Mortgage Servicing Requirements

July 1, 2019
Yemeng Yang
Maine has created a new requirement for mortgage servicers that goes further than the CFPB’s rules.
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Controversial CFPB Official Joins HUD, Dems Concerned

July 1, 2019
Yemeng Yang
HUD has offered a job to Eric Blankenstein, a former CFPB official who stirred controversy over his racism-tinged blog posting more than a decade ago. Democrats are concerned about the impact his appointment will have.
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Comment Period on HMDA Data Points Extended

July 1, 2019
Yemeng Yang
The CFPB extended the comment period by three months on its advanced notice of proposed rule-making regarding whether to revise additional HMDA data points added under its 2015 rule.
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