Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
Helping students clearly understand the total cost of attending college and making informed decisions about paying for their education is the stated aim of a new web-based tool rolled out Wednesday by the federal consumer […]
A Texas student-loan debt relief company, two of its owners, a marketer and her company, and attorneys in three states are named in a complaint for charging borrowers nearly $12 million in illegal upfront fees, […]
Title: Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): Extension of Sunset Date Subject: Qualified mortgage Agency: CFPB Status: Final rule; official interpretation Summary: With certain exceptions, Regulation Z requires creditors to […]
Title: Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date Subject: Qualified mortgage Agency: CFPB Status: Final rule Summary: The Bureau of Consumer Financial […]
Credit builder loans could increase the likelihood of credit record establishment for consumers without such documentation and could improve credit scores of those without current outstanding debt, according to a report released Monday by the […]
Title: Payday, Vehicle Title, and Certain High-Cost Installment Loans Subject: Payday lending Agency: CFPB Status: Final rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend its regulations governing […]
A record amount of $11.4 billion in debt settlements 10 years ago during the Great Recession may provide a road map of what’s to come in 2020 as the financial impact of the coronavirus crisis […]
Two proposed rules aimed at addressing the pending expiration of the so-called “GSE patch” in the federal consumer financial protection agency’s qualified mortgage provisions of its Truth in Lending Act regulation are slated for publication […]
The role of artificial intelligence (AI) and, within it, machine learning (ML), in the credit underwriting process is under review at the Consumer Financial Protection Bureau (CFPB), which highlighted in a blog post Wednesday the […]
Millions of dollars in fines against a Florida company for charging illegal fees to consumers to purportedly relieve them of their federal student loan payments will be reduced to just a fraction of that under […]
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