CFPB – Regulatory Report

What's up

[ October 15, 2021 ] In first action since taking CFPB seat, Chopra/agency join in appealing consumer FCRA decision CFPB
[ October 14, 2021 ] Board to consider final rule for expanding lending, services role for credit union service organizations NCUA
[ October 14, 2021 ] ‘Time to move’ from LIBOR, group recommends, by slowing its use before year’s end The Fed
[ October 14, 2021 ] Yellen-led financial stability council meets Monday on climate, stablecoins Other
[ October 14, 2021 ] FDIC makes new online ‘Money Smart’ tool available for banks to share FDIC

In first action since taking CFPB seat, Chopra/agency join in appealing consumer FCRA decision

October 15, 2021 0

Arguing that a consumer reporting agency is subject to requirements of the Fair Credit Reporting Act (FCRA), the federal consumer financial protection agency has joined the state of North Carolina and the Federal Trade Commission […]

Consumer financial protection agency names four to leadership posts

October 13, 2021 0

The federal agency charged with consumer financial protection on Wednesday announced four individuals named to the senior posts of deputy director, associate director for consumer education and external affairs, chief of staff, and chief technologist. […]

Chopra sworn in as CFPB director; promises to promote market power to consumers, law-abiding businesses

October 12, 2021 0

Rohit Chopra became the fifth director of the federal consumer financial protection agency Tuesday, saying he would work to ensure the financial marketplace meets the needs of all families, workers, and communities. In a letter addressed […]

Reverse mortgage firm – represented by TV’s Tom Selleck – faces $1.1 million penalty for alleged deceptive acts

October 12, 2021 0

A $1.1 million penalty would be paid by a California firm for taking allegedly deceptive acts aimed at older homeowners under a proposed order issued late Friday by the federal consumer financial protection agency. The […]

Final LIBOR transition rule targeted for January 2022, CFPB says in report

October 8, 2021 0

The federal agency charged with consumer financial protection “expects” to issue a final rule in January to facilitate covered institutions’ transition away from use of the London Interbank Offered Rate (LIBOR) as a reference rate […]

Jan. 6 comment deadline set for proposed small-biz loan data collection rule

October 8, 2021 0

Members of the public have until Jan. 6 to submit comments on a consumer financial protection agency proposal to require financial institutions to collect and report data on business loan applications, including from women- and […]

Small Business Lending Data Collection Under the Equal Credit Opportunity Act (Regulation B)

October 8, 2021 0

Title: Small Business Lending Data Collection Under the Equal Credit Opportunity Act (Regulation B) Subject: Small-business loan data Agency: CFPB Status: Proposed rule Summary: The Bureau of Consumer Financial Protection (Bureau) is publishing for public […]

New FAQs focus on limited-content messages, call frequency under debt collection rules

October 4, 2021 0

A set of “frequently asked questions” (FAQs) that discuss limited-content messages and the call frequency provisions under debt collection rules was published Friday by the federal consumer financial protection agency. The FAQs, according to the […]

Senate, voting 50-48, confirms Chopra to five-year term as CFPB director

September 30, 2021 0

The Senate on Thursday confirmed Rohit Chopra to a five-year term as director of the Consumer Financial Protection Bureau (CFPB) on a straight, party-line vote of 50-48. Chopra, nominated to the bureau post in February […]

CFPB: Credit card debt dropped, digital engagement rose during pandemic; bureau looking to issuers for continued service improvements

September 29, 2021 0

Growth in the consumer credit card market in recent years reversed itself in 2020, with credit card debt falling to $811 billion by the second quarter of 2020 from a 2019 peak of $926 billion […]

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In first action since taking CFPB seat, Chopra/agency join in appealing consumer FCRA decision

October 15, 2021 0

Arguing that a consumer reporting agency is subject to requirements of the Fair Credit Reporting Act (FCRA), the federal consumer financial protection agency has joined the state of North Carolina and the Federal Trade Commission (FTC) in an appeal to [...]
Board to consider final rule for expanding lending, services role for credit union service organizations

October 14, 2021 0

Finalizing a proposed – and contentious — rule on expanded lending and services provided by federal credit union (FCU) credit union service organizations (CUSOs) highlights the scheduled agenda for next week’s meeting of the federal credit union regulator. In other [...]