Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
The new Biden administration instituted a “regulatory freeze” order on Wednesday, requiring that no new rules be proposed or issued until a Biden-appointed official has reviewed or approved the rule. The order also requires that […]
Noting that she was doing so at the request of the new Biden administration, Consumer Financial Protection Bureau (CFPB) Director Kathleen (“Kathy”) Kraninger resigned Wednesday shortly after 12:45 p.m. ET. She had served about 25 […]
An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule Tuesday by the federal consumer financial protection agency. […]
By tapping Rohit Chopra as the intended nominee for next director of the federal consumer financial protection agency, the incoming Biden administration is signaling that changes are coming to leadership of federal financial institution regulation. […]
A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday by the federal insurer of bank deposits. Three […]
A summary of the October 2020 debt collection rule regarding communications between collectors and debtors is provided in a small-entity compliance guide released by the federal consumer financial protection agency Friday. The Consumer Financial Protection […]
Improving coordination between the federal credit union regulator and federal consumer financial protection agency over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a […]
Financial institutions are encouraged to better serve consumers with limited English proficiency (LEP) and are being provided principles and guidelines to assist financial institutions seeking to better serve LEP consumers in non-English languages, the federal […]
Maximum civil money penalty amounts are rising about 1.18% under inflation adjustments made by federal financial institution regulators, with the increased maximums set to apply after Jan. 15. The Federal Deposit Insurance Corp. (FDIC), Federal […]
The beta release of the Home Mortgage Disclosure Act (HMDA) platform for data collected in 2021 is available now for testing, the Consumer Financial Protection Bureau (CFPB) said in a notification Monday. The beta platform […]
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