Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Title: CFPB Inquiry Into Big Tech Payment Platforms Subject: Payments/big tech Agency: CFPB Status: Notice and request for comment Summary: On October 21, 2021, the Consumer Financial Protection Bureau (Bureau or CFPB) ordered six large […]
Background screeners that use “name-only matching” to verify the identity of job or housing applicants are violating federal law, according to an advisory opinion announced Thursday by the Consumer Financial Protection Bureau (CFPB). “Regulators are […]
If you live in a Black or Hispanic neighborhood, or are young with a low credit score, you are “far more likely” to have a dispute appear on your credit report, according to new research […]
Payment stablecoins and their arrangements should be subject to a federal framework on a consistent and comprehensive basis through an act of Congress – including by requiring that stablecoins may only be issued by federally […]
Guidance documents to help institutions understand their compliance requirements under federal rules implementing the Fair Debt Collection Practices Act (FDCPA), in particular, the rule’s validation requirements, have been updated by the Consumer Financial Protection Bureau, […]
Lorelei Salas and Eric Halperin have been named to lead the supervision and enforcement operations of the Consumer Financial Protection Bureau (CFPB) and will serve as “effective watchdogs over the financial marketplace, especially when it comes […]
Stimulating greater competition in consumer financial markets, sharpening focus on repeat offenders, and restoring “relationship banking” are the “path forward” for the federal consumer financial protection agency, its director told a House committee Wednesday. Appearing […]
Many of the dollar amounts that serve as thresholds for Truth-in-Lending Act (TILA) requirements, implemented by Regulation Z, on open-end credit and mortgages are set to rise as of Jan. 1, 2022, according to a […]
Updates to the filing instructions for Home Mortgage Disclosure Act (HMDA) data collected in 2022 – to be reported in 2023 – were released last week by the Consumer Financial Protection Bureau (CFPB). The Filing […]
Financial institutions should use census tract information provided in the 2020 Census for mortgage-related data collected beginning next year, the federal consumer financial protection agency said Monday. In a “HMDA Reminder,” the Consumer Financial Protection […]
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