Cart

Inside the CFPB

January 9, 2023

View Archived Issues

Rulemaking Related to Nonbank Registration on CFPB Agenda

The CFPB’s latest regulatory agenda includes some pending priorities and some new ones. Two of the new items would require nonbanks to register with the bureau. Read More

NY Law Limits Timeframe to Complete Foreclosures

The New York Foreclosure Abuse Prevention Act reverses a court ruling that said the voluntary discontinuance of a foreclosure revoked the acceleration of a mortgage loan and its six-year statute of limitations. Read More

Bank Statement QMs Face Hurdles Due to Policy Change

For lenders trying to make bank statement loans that qualify as QMs, a little-noticed addition to a Regulation Z commentary could create uncertainty around whether they’ve properly verified the borrower’s income. Read More

CFPB Updates Regulation Z Threshold Later Than Usual

The CFPB is facing criticism from attorneys over its unusually late issuance of annually updated thresholds in Regulation Z’s provisions implementing various laws and rules. Read More

CFPB, NY Sue Auto Lender Over Unaffordable Loans

The bureau and the New York Office of the Attorney General are suing Michigan-based auto lender Credit Acceptance Corp. over violations of federal and state consumer protection laws. Read More

Trade Groups Pan CFPB Auto Loan Dataset Proposal

Industry trade groups said the bureau’s proposal lacks both a meaningful opportunity for comment and context. Consumer advocates, though, argued that a dataset is necessary and said it should focus primarily on consumer experiences. Read More

CFPB May Issue More Credit Reporting Rules

During recent congressional hearings, CFPB Director Rohit Chopra said the bureau is weighing whether to issue more credit reporting rules under the Fair Credit Reporting Act. Read More

CFPB Orders Wells Fargo to Pay $3.7 Billion in Largest Penalty Ever

The settlement includes fines and remediation to resolve allegations over customer abuses related to mortgage and auto loan servicing. Read More

Other News in Brief

State AGs weigh in on CFPB’s Supreme Court appeal; HMDA filing period opens; Community Reinvestment Act thresholds updated; CFPB asks for dismissal of UDAAP lawsuit; CFPB, FTC argue furnishers must investigate legal disputes; bureau penalizes remittances provider. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results