For its part, the CFPB said it will take an “active leadership role” on the Federal Financial Institutions Examination Council’s Appraisal Subcommittee.
A study found that mortgages subject to TRID are less attractive to lenders than the pre-TRID version. The CFPB noted its own analysis didn’t find a long-term decline in mortgage originations linked to TRID.
The bill would render pre-dispute arbitration agreements and class-action waivers relating to consumer financial products and services invalid and unenforceable.
The Conference of State Bank Supervisors is optimistic it will avoid a repeat of the technical glitches that plagued the annual NMLS license renewal process last year.
Written correspondence sent to a mortgage servicer providing sufficient information to identify the account and an alleged servicing error is a “qualified written request,” the Fourth Circuit Court of Appeals ruled.
The CFPB warned auto loan servicers about repossession practices that could create the potential for violations of the prohibition on engaging in unfair, deceptive or abusive acts or practices.
A new report shows that medical debt is the most common collections tradeline on consumer credit reports and out of every 100 Americans, between 18 and 35 people have medical debt in collections.
Organizations representing workers across various sectors raised concerns regarding increasing employer-driven debt and the rise of new surveillance technology tools.
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