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Inside the CFPB
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New Debt Collection Proposal Addresses Email, Text Usage

May 20, 2019
Yemeng Yang

The CFPB issued a proposed debt collection rule to clarify matters looming in the industry, including the use of emails and text messages. If the proposal is finalized, it will be the first time that the industry has clear rules to rely on rather than numerous court precedents.


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Total Consumer Complaints Climbed Last Year

May 20, 2019
Yemeng Yang

A report by a consumer group found that consumer complaints filed with the CFPB increased sharply last year. Various consumer advocacy groups have urged the bureau to keep its complaint database public.


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CRC Sues CFPB for Pulling Back on Data Collection

May 20, 2019
Yemeng Yang

The California Reinvestment Coalition sues the CFPB for failing to issue rules on small business lending in time.


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Other News in Brief

May 20, 2019
Yemeng Yang

Ninth Circuit Upholds Constitutionality of CFPB

May 9, 2019
Yemeng Yang

A federal appeals court has upheld CFPB's constitutionality. This means there is no circuit split on the issue, which would encourage the Supreme Court to take up the case.


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Other News in Brief

May 6, 2019
Yemeng Yang

Public Input on Remittance Rule Requested. Exemptions an Issue?

May 3, 2019
Yemeng Yang

The CFPB is seeking public input on possible changes to the remittance rule, such as raising the exemption threshold.


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TRID Guidance on Mortgage Assumptions

May 3, 2019
Yemeng Yang

The CFPB has issued guidance in the form of a fact sheet on the applicability of the integrated mortgage disclosure rule to mortgage loan assumptions.


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New York Creates CFPB-like Division; New Policies to Follow

May 2, 2019
Yemeng Yang

The New York Department of Financial Services has created a regulator akin to the CFPB, stepping up statewide consumer financial protection.


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Proposal to Raise HMDA Reporting Thresholds

May 2, 2019
Yemeng Yang

The CFPB late last week proposed to exempt more lenders from collecting and reporting loan-level data under the Home Mortgage Disclosure Act.


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