The final rule outlines the steps collectors must take to inform borrowers about an existing debt and prohibits vendors from bringing legal action over time-barred claims. But neither industry nor consumer groups are happy.

In a review report, small entities asked the CFPB to draft simple regulations to implement small business lending data collection requirements to reduce compliance burden and expand credit access.

CFPB appoints former Freddie official to head Office of Innovation; CFPB cautions against reverse mortgage scams; mortgage servicers settle with DOJ; MMC examinations.

Consumer advocacy groups are hoping their recent lawsuits have set the stage for the Biden administration to overturn lax Trump-era rules.

Mr. Cooper will pay $91.3 million to settle with state regulators and the CFPB for violations of federal and state servicing rules, according to an agreement released this week.

Under the finalized policy, the CFPB issued two advisory opinions or “interpretive rules” regarding earned wage access programs and certain education loan products.

The CFPB said it will consider the Government Accountability Office’s recommendation, but rulemaking will involve joint efforts with other regulators. Meanwhile, institutions can themselves revise the model form on a trial basis.

Consumer advocacy groups, on the other hand, have urged the bureau to restore Obama-era interpretations and provide more consumer protection.

The CFPB’s website now includes an interactive enforcement database, plus an option to request rulemaking and archived reports and press releases.

The CFPB’s integrated mortgage disclosure rule has helped reduce borrowing costs particularly for first-time and disadvantaged homebuyers, a new study finds.