A recent Third Circuit ruling that asset-backed securities are “covered persons” subject to the CFPB’s authority under the Consumer Financial Protection Act could change the regulatory landscape for ABS.
Many mortgage brokers failed to satisfy a two-part test that determines whether compensation they received from a lender is permissible under the Real Estate Settlement Procedures Act.
As part of the settlement, loanDepot has agreed to undertake extensive appraisal policy changes. The lender also agreed to make payment of an undisclosed sum to the plaintiffs in the lawsuit.
The bureau is working to understand how video games can become a haven for scams, fraud, financial losses and unanticipated purchases that can deplete a family’s real-world financial assets.
Lawsuit against CFPB’s credit card rule to stay in Texas; CFPB has no comment on allegations involving UWM, mortgage brokers; the bureau plans to release a credit card comparison shopping tool; ABA and other trade groups urge the CFPB to drop an auto data request; CFPB issues warning on false advertising used in remittance transfers.
More than a handful of motions and briefs have been filed over the last two weeks in the lawsuit challenging the CFPB’s final credit card late fee rule.