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Inside the CFPB

July 19, 2021

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Complaints About Credit Reporting Services Up in 2Q21

Many of the complaints about the big three credit reporting services involve inaccurate information, as well as efforts from credit repair organizations trying to get derogatory information removed from reports. Read More

House Republicans Seek Answers from Uejio, Slam Chopra

Capitol Hill Republicans want CFPB Acting Director Dave Uejio to testify before Congress about the policy actions undertaken during his six-month tenure. Read More

Industry Not Fazed by Expiration of QM Patch

Mortgage industry participants have a ho-hum reaction to expiration of the GSE patch for QMs. One compliance officer says the industry will do just fine without it. Read More

The ‘Should Lenders Self-Report Violations’ Debate Continues

Nanci Weissgold, a compliance attorney, said there’s no “one-size-fits-all” answer to whether a company should self-report violations. Read More

State Regulators Allow Work From Home Option for LOs

As the coronavirus pandemic recedes, many state regulators are allowing long-term remote work flexibility. Read More

MBA Wants to Know How Fair Lending Laws Apply to AI

The CFPB should allow lenders to adopt approaches using artificial intelligence in ways that expand credit access and limit fair lending risk, the MBA said. Read More

Bureau Examines Impact of Commercial Credit Reports

In a first-of-a-kind study, the CFPB examined commercial credit reporting and its impact on consumer credit. But is the bureau highlighting an area for later enforcement action? Read More

CFPB Must Require Mods on All Loan Types, Law Professors Say

A new academic report calls for the CFPB to require loan modifications on all types of consumer loans using an “ability to pay” standard. Read More

Other News in Brief

Patrice Ficklin appointed to interagency mortgage appraisal task force; Maine updates mortgage servicer definition; states take action on RON; GreenSky to refund $9 million in unauthorized loans. Read More

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