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CFPB Urges FCC to Allow Certain COVID-19 Robocalls

May 11, 2020
Yemeng Yang
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.
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Democrats Want HMDA Reporting Suspension Lifted

May 11, 2020
Yemeng Yang
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.
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CFPB Appointees Accused of Manipulating Payday Rule

May 11, 2020
Yemeng Yang
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.
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Qualified Mortgage Rulemaking Remains a Question

April 27, 2020
Yemeng Yang
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.
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CFPB Finalizes Increase in HMDA Reporting Thresholds

April 27, 2020
Yemeng Yang
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.
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Banks Can Close Mortgages Without Advance Appraisals

April 27, 2020
Yemeng Yang
Banks can delay getting an appraisal for certain real estate-related transactions for up to 120 days after a mortgage closes. The leeway applies only to portfolio loans.
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CFPB Draws Flak From Dems Over COVID-19 Action

April 13, 2020
Yemeng Yang
Democratic senators criticized the CFPB’s response to the economic pain caused by COVID-19 as “tepid and inefficient.” Meanwhile, the bureau’s former director, Richard Cordray, outlined his suggestions.
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OCC Pushes to Overhaul CRA in Midst of Pandemic

April 13, 2020
Yemeng Yang
The Comptroller of the Currency is moving forward with its plan to modernize the Community Reinvestment Act despite calls for a delay due to the coronavirus.
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Debt-Collection Rule Public Comment Period Extended

March 30, 2020
Yemeng Yang
Industry stakeholders have 30 more days to submit their feedback on a proposed rule that would require debt collectors to make certain disclosures under the Fair Debt Collection Practices Act.
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Extra CRA Credit for LMI Lending During COVID-19

March 30, 2020
Yemeng Yang
Federal agencies will give “favorable consideration” under the Community Reinvestment Act to banks that help low- and moderate-income borrowers offset the economic impact of the coronavirus.
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