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Inside the CFPB
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CFPB, European Commission to Hold Principal-Level Talks

April 22, 2024
Shannon Clark
The two jurisdictions are continuing their partnership to share information about consumer financial protection issues and regulations.
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Other News in Brief

April 22, 2024
Shannon Clark
Judge in credit card lawsuit can continue; Republicans warn the bureau against rulemaking to limit arbitration; California tech school banned from lending.
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Texas District Court Puts New CRA Standards on Hold

April 8, 2024
Shannon Clark
The judge, who granted a preliminary injunction against the CRA overhaul, said there’s “substantial likelihood” that the plaintiffs in the lawsuit will ultimately win.
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CFPB Authority Expands to Student Loan ABS

April 8, 2024
Shannon Clark
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.
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FDIC Finds RESPA Violations in Broker Compensation

April 8, 2024
Shannon Clark
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.
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loanDepot Settles Appraisal Discrimination Lawsuit

April 8, 2024
Shannon Clark
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.
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CFPB Rolls Out Three-Part Technology Advancement Plan

April 8, 2024
Shannon Clark
The bureau plans to hire more technologists, issue policy guidance for law firms and provide research on emerging technologies in the coming months.
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Strong Opposition to CFPB’s Overdraft Proposal

April 8, 2024
Shannon Clark
Trade groups representing depositories are urging the CFPB to drop a proposed rule that will curb overdraft fees charged by large banks.
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CFPB Examines Financial Risks in Video Games

April 8, 2024
Shannon Clark
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.
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CFPB Refuses to Quash CID Issued to MV Realty

April 8, 2024
Shannon Clark
MV Realty argued the CID is outside the CFPB’s jurisdiction because the company does not offer consumer financial products or services.
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