While several complaint categories saw increases during the fourth quarter, consumer issues tied to student loans and credit cards declined. (Includes two data tables.)
Before submitting a complaint against a credit reporting agency about inaccurate or incomplete information, borrowers will have to first dispute the information directly with the credit or consumer reporting agency.
The NTEU argued that the Trump administration will eliminate the CFPB, and by the end of the case, it will be too late for the court to do anything about it. A hearing is set for Feb. 24.
The National Consumer Law Center said the proposals will reduce price transparency, create an unlevel playing field and will make homeownership more expensive for consumers.
Senate Democrats urge CFPB to rescind ECOA proposal; federal court denies trade group’s challenge to the PACE rule; 22 state AGs seek partial summary judgment in a lawsuit against the CFPB.
CSBS President Brandon Milhorn said the new data standard will help reduce mortgage lending compliance costs, giving companies the flexibility to make more loans.