Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
The threshold for collecting and reporting data about open-end lines of credit will increase for some financial institutions for a two-year period, beginning Jan. 1, according to a final rule scheduled to be published by […]
Comments about an extension of time to collect information about the small business lending market are due Thursday (Sept. 14) to the CFPB. In May, the bureau issued a request for information about small business […]
Comments on CFPB quarterly data collection on aggregated student loan servicing metrics and borrower outcomes from student loan servicers are due Oct. 10, under a notice published Wednesday in the Federal Register. The bureau, in […]
Establishment of low-risk checking or prepaid accounts at banks and credit unions, and use of “alternative data” in building credit records, continue to be goals of the Consumer Financial Protection Bureau (CFPB) in battling financial […]
Concerned about financial services and other companies that are “tricking consumers” into paying expensive fees for remitting by phone, the CFPB issued a warning today about charging the fees. The bureau also issued guidance that […]
A proposal clarifying the information financial institutions are required to collect and report about their mortgage lending – helping them, in turn, comply with Home Mortgage Disclosure Act (HMDA) rules – was issued today by […]
Providing additional flexibility to some mortgage lenders concerning the collection of consumer demographic information is the aim of a proposed amendment to Regulation B (Equal Credit Opportunity Act/ECOA) issued by the CFPB last week. According […]
Comments on a delayed effective date (to April 1, 2018) for a CFPB rule on prepaid accounts will be due April 5, as a result of a notice to be filed tomorrow in the Federal […]
Advisory boards and councils for the CFPB – representing community banks, credit unions, consumers and researchers – would be continued under notices to be published Thursday by the agency, despite proposed legislation likely to emerge […]
“Alternative data” to determine credit-worthiness of consumers who lack enough credit history to obtain a credit score is the subject of an exploration opened Friday by the CFPB. The inquiry into “alternative data” focuses on “credit […]
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