Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Home loan applications in 2023 were down 30% – from 14.3 million in 2022 to 10 million – according to new home lending data released Thursday. However, the share of home purchase loans to Black, […]
Mortgage servicers would be required to focus on helping their mortgage borrowers, and not foreclosing, when a homeowner asks for help under a rule proposed Wednesday by the federal consumer financial protection agency. The proposal […]
Alleged wrongful triggering of auto repossessions, and purported opening of fake bank accounts, has led Tuesday to the federal consumer financial protection agency to seek $20 million in penalties from one of the nation’s largest […]
Unfair practices in how some banks communicated with consumers about freezes on deposit and prepaid accounts, and limited oversight by financial institutions of medical providers offering payment products, are among concerns recently identified by examiners […]
Details on appraisals, willingness to move, and disability accommodations are covered in updated loan-level data released Monday by two federal agencies collected through the National Survey of Mortgage Originations (NSMO). The data also provide, according […]
Data collection compliance for small business lending is extended to next year (July 18, 2025) for the highest volume lenders, and to dates in 2026 for moderate and lowest volume lenders, the federal consumer financial […]
Two mortgage-related firms face action – including a combined nearly $9 million in penalties — for reverse mortgage servicing failures and recurring data errors, the federal consumer financial protection agency charged Tuesday. The Consumer Financial […]
Claiming they fraudulently hid money – north of $40 million – to evade law enforcement, the federal consumer financial protection agency Monday asked a court to resolve a lawsuit against a Kansas couple filed in […]
A proposal to remove a regulatory exception that allows creditors to obtain and use medical debt information for credit eligibility decisions was issued for comment Tuesday by the federal consumer financial protection agency. The proposal […]
An interpretive rule that applies some Regulation Z (Truth in Lending Act) requirements to lenders marketing “buy now, pay later” (BNPL) loans that are accessed through digital user accounts is set to take effect July […]
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