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Inside the CFPB

February 1, 2021

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Uejio Vows to Step Up Enforcement, Reverse Kraninger Approach

The CFPB acting director promised aggressive action against companies that have failed to provide relief to consumers during the pandemic. He also plans to reverse his predecessor’s “relaxed approach.” Read More

Biden’s Regulatory Freeze Could Deep Six CFPB Rules

The pause could probably disrupt the implementation of the new qualified- mortgage standards, the final rule on escrow account exemptions and the recent clarification on the role of supervisory guidance. Read More

CFPB Finds Several Problems in Prioritized Assessments

The pandemic-related higher-level examination conducted by the CFPB found several instances of mortgage servicer deficiencies that raise the risk of consumer harm. Read More

California’s Mini-CFPB Makes Its Presence Known

The newly minted state regulator modeled after the federal CFPB has issued subpoenas to a dozen debt collectors based on consumer complaints. Read More

Mortgage Complaints Fall in 4Q, But Up Year-Over-Year

Consumer gripes related to mortgage applications more than doubled to 5,304 in 2020 from 2,588 in 2019. Complaints about loan closings were also sharply up at 43.8%. (Includes two data charts.) Read More

LendUp Loans Agrees to $1.25 Million Settlement

The CFPB had charged the Oakland, CA-based online lender with various violations under the Military Lending Act. Read More

CFPB, NCUA Team Up to Share Information

The two agencies will collaborate in strategy planning sessions to identify and address areas of alignment and coordination in examinations for covered institutions. Read More

Other News in Brief

The CFPB selects seven communities for its “Start Small, Save Up” initiative; New financial educational guide released to help servicemembers and their families. Read More

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