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Inside the CFPB

July 24, 2023

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Mortgage-Related Complaints Drop Across the Board in 2Q

Consumer complaints to the CFPB related to mortgages were down sharply from the early months of the year, with huge drops in every category, according to a new Inside the CFPB analysis. Read More

Friend-of-the-Court Briefs Argue Against CFPB

Most of the recent amicus briefs filed in a case challenging the CFPB’s funding structure urged SCOTUS to affirm a Fifth Circuit ruling on the matter. Read More

Lawyers Grapple With HUD’s Disparate Impact Rule

Industry participants spoke last week on effective implementation of the Department of Housing and Urban Development’s discriminatory effects rule during a conference of the National Fair Housing Alliance. Read More

CFPB Fines BofA Over Fake Credit Card Accounts, NSF Fees

The consent orders related to Bank of America’s practice of charging repeat nonsufficient funds fees, denying rewards to credit card consumers and opening unauthorized credit card accounts. Read More

Attorneys Warn Real Estate Agents of CFPA Prohibitions

Recent CFPB guidance on the prohibition of abusive practices could pose risks to real estate agents engaging in joint ventures with lenders and title companies, according to attorneys at McGuire Woods. Read More

Furnisher Not on the Hook for Credit Report Interpretation

The Seventh Circuit held that lenders are not liable for how credit reporting agencies interpret information provided on an automated credit dispute verification form. Read More

CFPB Clarifies Stance on ECOA, TILA Coverage

In recent amicus briefs, the bureau argued that statutes of limitations are subject to equitable tolling and a loan’s exposure to the Truth in Lending Act is not based solely on contractual language. Read More

CFPB, Europe Regulator to Discuss Risk of Digitization

The dialogue will cover automated decision making and data processing in financial services, including the development of artificial intelligence. Read More

Other News in Brief

FSOC nonbank SIFI designations questioned; CFPB and states sue student lender; CFPB sues lease-to-own provider. Read More

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