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Inside the CFPB

July 6, 2021

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CFPB COVID Rule Places Limitations on Foreclosures

The bureau issued a final rule that nearly all residential servicers must adhere to when dealing with principal residences where borrowers are struggling with the financial impact of COVID-19. Read More

Uejio’s HUD Nomination to Spur Chopra’s Senate Vote

CFPB Acting Director Dave Uejio’s nomination to HUD suggests the Biden administration believes it has enough votes to get Rohit Chopra’s CFPB nomination approved. Read More

Politicos Spar Over Proposal for a Public Credit Bureau

Members of the House Financial Services Committee voiced different views on a proposal for a government-run credit reporting agency that would compete with the three big private players — Equifax, Experian and TransUnion. Read More

Former CFPB Chief Touts Benefits of Self-Reporting

Six months after leaving the bureau, former CFPB Director Kathy Kraninger has some advice for companies: Have a process in place for identifying mistakes before the bureau and state examiners do so. Read More

Fintechs Seek Guidance on Applying Disparate Impact

The companies urged the CFPB to state that disparate impact applies to business models that use AI and to clarify when a disparity is large enough to support a claim of discrimination. Read More

Supervisory Report Finds Mortgage Servicing Failures

Mortgage lender/servicer violations including redlining, compensation based on product type, deceptive waivers and misrepresentations regarding foreclosure timelines were reported. Read More

CHLA Asks CFPB to Streamline Enforcement of Small Nonbanks

The trade group believes the CFPB should not take enforcement actions or conduct investigations of nonbanks unless asked to do so by a state regulator. Read More

Other News in Brief

Supreme Court leaves CDC moratorium intact; compliance expert Oliver joins DFPI; FTC to send refund checks; Burlington agrees to settle charges; West Virginia addresses zombie properties. Read More

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