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Home » Authors » Shannon Clark

Articles by Shannon Clark

Proposed Payments Rule Caught in Partisan Crossfire

March 25, 2024
Shannon Clark
At a recent House hearing, Republicans and Democrats were divided on the CFPB’s proposed rule to extend its supervisory authority to large technology companies in the digital payment space.
Read More

CFPB Seeks Approval for New Data Collection

March 25, 2024
Shannon Clark
The CFPB is seeking more information about the factors affecting consumers when deciding to utilize the agency’s complaint process.
Read More

CFPB Urges New York to Advance UDAAP Bill

March 25, 2024
Shannon Clark
The bureau is calling on NY state leaders to consider adding more restrictions within state legislation to protect consumers from unfair, deceptive or abusive acts and practices.
Read More

Other News in Brief

March 25, 2024
Shannon Clark
Chopra reiterates concerns about the Appraisal Foundation; nonprofits, fintechs support 1033 proposal: Senate Democrats push CFPB on medical debt.
Read More

Lenders Advised to Prepare for Cyberattacks

March 22, 2024
Shannon Clark
Mortgage companies need to have a plan and a team in place to handle potential cyberattacks, according to security experts.
Read More

Chopra Critical of Appraisal Organization’s Leadership

March 21, 2024
Shannon Clark
CFPB Director Rohit Chopra detailed a number of concerns regarding the Appraisal Foundation. The foundation’s president defended the organization.
Read More

Bank Settles Wage Theft Lawsuit With Loan Originators

March 14, 2024
Shannon Clark
The lawsuit alleged Banner violated the Fair Labor Standards Act by not compensating mortgage loan officers who were required to work off the clock and more than eight hours per day.
Read More

Nonbanks Frustrated by Slow-Moving State Regulators

March 12, 2024
Shannon Clark
Limited adoption by states of a new form meant to streamline reporting requirements is a “disappointment,” according to the MBA.
Read More

White House Pushes CFPB on Mortgage Closing Costs

March 11, 2024
Shannon Clark
The CFPB is looking into closing costs associated with mortgage originations. The move is facing pushback from the MBA.
Read More

SCOTUS May Vote Narrowly in BofA Escrow Appeal

March 11, 2024
Shannon Clark
The Cantero v. BofA mortgage-escrow case, which has major ramifications for federal preemption of state laws, could swing either way, depending on how three justices rule.
Read More
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