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Inside the CFPB

August 16, 2021

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CFPB Cites Report on Servicers’ COVID Response as a Guide

The report covers 16 servicers and the details could provide insight into the bureau’s enforcement priorities, according to compliance attorneys. Read More

Plaintiffs Citing Collins in Fight Against CFPB

A recent U.S. Supreme Court decision is being used by the industry in pushing back against enforcement and it’s not the Seila Law case. Read More

Waters Asks Bureau to Step Up Monitoring of Servicers

Rep. Maxine Waters. D-CA, wants federal regulators, including the CFPB, to conduct “robust supervision and enforcement” of mortgage servicers to protect homeowners from unnecessary foreclosures. Read More

Bureau Issues Rule for Handling Juneteenth Holiday

The rule will help lenders in determining whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections. Read More

New York Clears Bill Seeking to Apply CRA to Nonbanks

The Mortgage Bankers Association said the Community Reinvestment Act is an ineffective and misguided policy choice with respect to nonbanks. Read More

DFPI Hears Fewer Gripes About Nontraditional Mortgages in 2020

The improvement came even as originations of residential loans by nonbanks doubled between 2019 and 2020, the California regulator said. Read More

Sen. Toomey Lambasts Uejio at HUD Nomination Hearing

Dave Uejio’s actions as CFPB acting director came under fire from GOP Sen. Pat Toomey during Uejio’s nomination hearing for a job at the Department of Housing and Urban Development. Read More

Court Orders Payday Lender to Comply with CFPB’s $50M Fine

A Kansas district court asks Integrity Advance and its CEO James Carnes to pay more than $50 million in restitution and fees while the case is still on appeal in the 10th Circuit. Read More

Other News in Brief

Republicans introduce CFPB commission bill; small-entity compliance guide updated; NYDFS to collect and publish diversity data; Sen. Pat Toomey seeks staffing details from Leandra English; New Mexico Supreme Court adopts new rules to prevent foreclosures; borrower satisfaction with servicers up. Read More

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