Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Title: Fair Credit Reporting Act Disclosures Subject: FCRA Agency: CFPB Status: Final rule Summary: The bureau is amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), to add a section establishing a maximum […]
Consumer reporting agencies will be able to charge up to $12.50 to provide a consumer with his or her credit report in 2019 under a rule change signed Dec. 21 by Consumer Financial Protection Bureau […]
Asset-size thresholds for institutions exempt from home mortgage data collection and from a requirement to establish new escrow accounts for certain high-cost mortgages were signed by the new director of the consumer financial protection agency in […]
USAA Federal Savings Bank – one of the largest financial institutions serving active and retired members of the military, and their families – will pay $12 million in restitution and a $3.5 million civil money penalty (CMP) […]
Vigorous enforcement of the law will be pursued, but the “costs and benefits to consumers” of enforcement activities and rulemakings will also weighed, according to a memo sent to staff Wednesday by the new director […]
More than four in every five of the workers at the federal consumer financial protection agency acknowledge that the work they do is important (and a similar number say they like the work that they […]
Reversing a long-standing trend, credit card programs offered with colleges and universities or their affiliated entities increased in 2017, according to a report issued Friday by the federal consumer financial protection agency. In its College […]
Final policy guidance describing mortgage lending data that will be disclosed publicly in 2019 – as well as information that will be excluded from disclosure – was announced Friday by the federal consumer financial protection […]
A systematic process by the federal consumer financial protection agency for prioritizing risks to consumers could use principles such as assessment of the extent of potential harm to consumers in financial markets, the congressional watchdog […]
While alternative data is helpful for financial technology, or “fintech,” companies to use in determining borrowers’ creditworthiness, the Consumer Financial Protection Bureau and the federal banking agencies should communicate with these lenders about how to […]
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