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Inside the CFPB

March 6, 2023

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Supreme Court Agrees to Hear CFPB Funding Case

A ruling against the CFPB could reshape the bureau’s funding structure and call into question every action taken by the consumer watchdog since its inception in 2011. Read More

CFPB Permanently Bans Repeat Offender Majestic Home

RMK Financial/Majestic Home Loans continued to use advertisements that led consumers to believe it was affiliated with the FHA or VA in violation of a 2015 consent order. Read More

Regulators Looking at Servicers’ LEP Activities

The CFPB is examining servicers on how they provide services to borrowers with limited English proficiency. Read More

Attorneys Discuss Shifts in FDCPA, FCRA Interpretations

Appellate courts are rejecting older interpretations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act, while the CFPB is pushing its own readings of them through guidance. Read More

Hundreds of Servicing Bills Pending in State Legislatures

Across the 47 state assemblies in session, there are about 500 pieces of legislation under consideration that would directly impact mortgage servicers. Read More

CFPB Weighs TRID Changes for Construction Loans

The bureau has opened for public feedback the Independent Community Bankers of America’s application for a trial program that would provide borrowers expanded disclosures for construction and construction-to-permanent loans. Read More

CFPB Finalizes Updates to Administrative Adjudication Rules

The CFPB last month finalized, without changes, a procedural rule to update its Rules of Practice for Adjudication Proceedings. The bureau received four comments on the rulemaking. Read More

CFPB Issues Data Collection Orders to Nine Auto Lenders

The bureau is seeking data on the auto lenders’ originations, servicing and repossessions dating back to 2018. Read More

Other News in Brief

The Appraisal Foundation plans to revise ethics rule draft; CashCall faces $169 million in restitution and fines; companies not reporting credit card payment data; public benefits programs subject to fees; CFPB, FTC seek input on tenant background checks; DOJ redlining settlement. Read More

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