The tally of enforcement actions by the regulator tied to deceptive VA mortgage advertisements reached seven this month, with more than $2 million in assessed penalties.
Of late, the CFPB has brought four enforcement actions against VA lenders for using deceptive mailers to advertise their government-backed products, assessing steep penalties. Similar regulatory actions are likely to follow.
The CFPB issues interpretive rule for determining "underserved areas" under Regulation Z; the CFPB and the OCC to host joint, virtual innovation office hours on July 29 and 30.
The proposal allows HELOC lenders and credit card issuers to choose a replacement index that is newly established and has no history, or one that is not new but has a track record.
The CFPB recently issued guidance to provide flexibility to credit card issuers in resolving billing disputes with small businesses impacted by the coronavirus pandemic.
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