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Inside the CFPB

April 12, 2021

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CFPB Withdraws Several Pandemic-Related Compliance Flexibilities

The bureau intends to fully exercise its supervisory and enforcement authority now that many financial institutions have developed more robust remote capabilities and demonstrated improved operations. Read More

CFPB Proposes to Halt Foreclosures Until 2022

Legal experts are mulling whether the bureau has the authority to do so. Implications. Read More

CFPB Seeks Public Input on Use of Artificial Intelligence

In what one law firm says will be a prelude to enforcement in the area, the bureau is seeking comments on industry use of AI. Read More

Industry, Consumer Groups Want Kraninger’s QM Standards

Several industry and consumer groups believe the CFPB should stick with the July 1 mandatory compliance date for the new QM rules. Read More

New Guardrails for Nonbank Servicers on the Horizon?

The new standards, which include capital requirements and corporate governance, for nonbank residential servicers may be finalized as early as May. Read More

CFPB Wants to Delay Debt Collection Rule Compliance

According to industry attorneys, a delay in implementation may provide the bureau an opportunity to propose substantive changes to the rule. Read More

Servicers Must Prepare to Help Borrowers Exiting Relief

The CFPB’s warning to servicers: There is no time to waste, no excuse for in-action and no reason to be surprised by what is coming. Read More

CFPB, FTC Targeting Illegal Evictions

Despite government prohibitions, there are reports major multistate landlords are forcing people out of their homes, the two federal agencies noted. Read More

CFPB Suggests Strategies to Communicate with Borrowers

Online self-service options can be scaled up more easily than traditional call centers, providing servicers with additional flexibility to handle spikes in homeowner requests, the bureau said. Read More

Other News in Brief

2020 HMDA data now available; CFPB acts against debt collector. Read More

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