The Office of the Comptroller of the Currency last week went it alone to finalize its Community Reinvestment Act overhaul. The final rule would restore the geographic distribution test for mortgage lending.
The CFPB recently issued guidance to provide flexibility to credit card issuers in resolving billing disputes with small businesses impacted by the coronavirus pandemic.
The bureau recently issued two factsheets addressing transaction coverage and appraisal delivery requirements under the Equal Credit Opportunity Act’s valuation rule.
Consumers facing pandemic-related financial emergencies can seek modifications or waivers regarding certain waiting period requirements under the TILA-RESPA Integrated Disclosure and Regulation Z rules.
Several trade and consumer groups are lobbying the Federal Communications Commission to exempt robocalls regarding forbearance options during the pandemic from the Telephone Consumer Protection Act.
Lawmakers, led by Sen. Sherrod Brown, D-OH, are urging Director Kathy Kraninger to not weaken the bureau’s ability to identify discriminatory lending patterns, particularly during the pandemic.
A former economist at the CFPB on his last day accused Trump appointees at the bureau of manipulating the research process to justify the payday lend-ing rule overhaul, according to a leaked memo.
There is no doubt the CFPB will extend the qualified-mortgage patch, but whether it will push ahead with changes to the framework is another question, according to industry attorneys.
Amid talk about regulatory delays due to the lockdown, the CFPB finalized a rule on collecting and reporting data under the Home Mortgage Disclosure Act. More rulemaking could follow.