The Federal Reserve last month issued its own plan to modernize the decades-old anti-redlining law: a metrics-based approach that would separately evaluate retail lending and community development financing.
Ocwen Financial has agreed to pay $5.2 million to Florida regulators to settle allegations it engaged in abusive servicing practices. A similar case filed by the CFPB against the nonbank is pending.
The CFPB is asking stakeholders about the possible scope of data that consumers should be allowed to share via authorized third parties, and how much data should be considered “protected” subject to security and privacy concerns.
With the initial 180-day forbearance plans coming to an end, Sen. Sherrod Brown, D-OH, is urging the CFPB to ensure borrowers are not victims of improper foreclosure practices.
Townstone Financial seeks to dismiss redlining lawsuit; CFPB settles with debt collectors and auto lenders; the bureau will hold a virtual town hall to discuss managing and protecting finances during difficult times.
Industry experts believe CFPB Director Kathy Kraninger’s job may be on the line if Joe Biden wins the presidential election. A few ongoing rulemakings also could be in trouble.
The legality of marketing service agreements will now depend on how the MSAs are structured and implemented. But has the bureau’s interpretation really changed?
The CFPB found that the TILA-RESPA Integrated Disclosures rule improved prospective borrowers’ ability to understand mortgage transactions, but at a huge cost to originators.
Eligible entities can apply for an early termination of consent orders, which typically have a five-year life span, along with strict reporting and record-keeping requirements.
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