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Inside the CFPB

April 26, 2021

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CFPB Puts Regulatory Might Behind CDC Eviction Moratoriums

The bureau issued an interim final rule to ensure tenants are provided with written notice of their rights under the Centers for Disease Control and Prevention eviction moratorium. Read More

Seila Law Seeks Reversal of Panel Decision to Uphold CID

In its latest filing with the Ninth Circuit, Seila Law said that because the agency had a structural constitutional defect, any exercise of executive power by the agency was void. Read More

Compliance Experts Suggest Best Practices for Exams

Industry attorneys recently discussed best practices in a post-pandemic world. One warning of note: The CFPB wants to make an example of bad actors, compliance experts warned at MBA’s recent conference. Read More

CFPB Fines SettleIt $1.4M for ‘Abusive’ Practices

The settlement resolves charges that the online debt settlement company steered consumers into high-cost loans from affiliated lenders and failed to disclose its relationship with those companies. Read More

Chase to Pay $11.5M to Settle Escrow Interest Lawsuit

National banks are being accused of violating state laws requiring interest payments on escrow accounts and, so far, courts are rejecting their arguments based on federal preemption. Read More

Is It Time to Drop Branch Licensing Requirements?

State regulators are open to the idea of eliminating branch licensing requirements given the changing face of technology. But then a lack of licensing revenue could hurt state budgets. Read More

Maryland Eliminates Paper License for Mortgage Lenders

Under the new rule, which will go into effect in October, a licensee’s NMLS number will serve as their only identification number. Read More

CFPB Complaints Down in First Quarter

Consumer complaints filed with the bureau in the first quarter declined on a sequential basis but was up from same period last year. Read More

Other News in Brief

Chopra still awaits confirmation; DFPI reiterates COVID-19 protections; the CFPB seeks comments on NMLS modernization; small entity compliance guide updated; former CFPB counsel joins O’Melveny. Read More

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