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Inside the CFPB
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Court Sides with BofA in Escrow Interest Class Action

October 25, 2021
Namrata Bhatia
A Maryland homeowner sought to file a class action against Bank of America for violating a state law requiring banks to pay interest on funds maintained in escrow accounts.
Read More

CFPB Joins FTC, NC DOJ in Defense of Fair Credit Reporting Act

October 25, 2021
Dennis Hollier
The bureau filed a joint amicus brief with the Federal Trade Commission in a case that seeks to use a section of the Communications Decency Act to avoid prosecution under the Fair Credit Reporting Act.
Read More

Other News in Brief

October 25, 2021
Brandon Ivey
Seila Law ends Supreme Court quest; compliance date of 2017 rule delayed again; CFPB joins other regulators on LIBOR statement; CFPB seeks clarity on Regulation O; consumers seek regulation of earned wage access products.
Read More

CFPB Activity to Rise with Chopra Holding the Reins

October 11, 2021
Brandon Ivey
With the Senate confirming Rohit Chopra as CFPB director, industry participants are preparing for regulatory whiplash after relaxed enforcement and rulemaking during the Trump administration.
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Hopes, Dreams for Actions by CFPB Conveyed to Chopra

October 11, 2021
Brandon Ivey
Rohit Chopra’s confirmation as CFPB director prompted a surge of statements from industry stakeholders. The sentiments include requests for action and compliments.
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Enforcement Actions Can Drive Minority Lending

October 11, 2021
Namrata Bhatia
Banking supervision plays an important role in improving access to mortgage credit for minorities and women, according to a new study.
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Seniors’ Complaints About Mortgages Jump in 2021

October 11, 2021
Namrata Bhatia
Consumers self-identifying as older Americans filed 1,987 gripes related to mortgages in the first half of 2021, a sharp increase from the same period last year. Conventional mortgages made up most of the complaints.
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The CFPB in Charge of Bank Mergers? A Bill Appears…

October 11, 2021
Paul Muolo
Should the CFPB have a say in bank M&As? Bankers will tell you no, but a new bill introduced on Capitol Hill opens up such a possibility.
Read More

Pandemic Brings Relief to Surging Credit Card Debt

October 11, 2021
Namrata Bhatia
The consumer credit card market had been booming over the last few years, with debt levels hitting new peaks in 2018 and 2019.
Read More

CFPB Provides Clarifications on Debt Collection Rule

October 11, 2021
Brandon Ivey
The bureau answered frequently asked questions about Regulation F, with details on when practices may run afoul of the debt collection rule.
Read More
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