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Home » Authors » Yemeng Yang

Articles by Yemeng Yang

CFPB Is Unconstitutional, But Here to Stay

July 6, 2020
Yemeng Yang
The Supreme Court said the president can fire the CFPB director at will but it refused to strike down the entire bureau. The court held that the for-cause provision can simply be severed from the rest of the statute.
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Seila Verdict Raises Doubts Over CFPB Enforcement Actions

July 6, 2020
Yemeng Yang
The Supreme Court has left to the Ninth Circuit Court to decide whether the civil investigative demand that was the core of Seila Law’s argument could be enforced.
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CFPB Rushing to Clear Rulemaking Agenda

July 6, 2020
Yemeng Yang
The CFPB is rushing to get certain rulemakings done this year as the presidential election looms. Most items on the CFPB’s to-do list have deadlines in the fall.
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CFPB Temporarily Loosens Loss-Mitigation Standards

July 6, 2020
Yemeng Yang
A recently issued interim final rule allows mortgage servicers to offer certain COVID-19-related loss-mitigation assistance without a complete borrower application.
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OIG Suggests CFPB Extend Supervision of Nonbanks

July 6, 2020
Yemeng Yang
In a new report, the CFPB’s Inspector General has recommended the bureau tailor its resources to monitor institutions based on risk and hire additional examiners.
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New Supervisory Approach Targets Mortgage Servicers

July 6, 2020
Yemeng Yang
The CFPB has sent out examination notices to mortgage servicers about their COVID-19-related practices, according to industry attorneys tracking the matter.
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CFPB Announces ‘Tech Sprint’ Focused on E-Disclosures

July 6, 2020
Yemeng Yang
Technology experts will gather this fall to develop innovative solutions to improve consumer e-disclosures. This is the first in a series of “tech sprints” planned by the CFPB.
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CFPB Proposes Escrow Account Exemption

July 6, 2020
Yemeng Yang
Few entities are likely to benefit from the proposal made under the Economic Growth, Regulatory Relief and Consumer Protection Act.
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CFPB Settles With Contract-for-Deed Companies

July 6, 2020
Yemeng Yang
The CFPB has reached a $35,000 settlement with three contract-for-deed companies over credit reporting violations.
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Other News in Brief

July 6, 2020
Yemeng Yang
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.
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