Calling it a “first,” the CFPB has issued a “no-action” letter to a California company that evaluates loan applications using “alternative data” rather than traditional methods in the agency’s efforts to learn more about how […]
The recovery from the housing meltdown of 2007-10 has been “uneven and painful” for communities of color, and it may take generations to restore what was lost, the director of the CFPB said Tuesday. In […]
Banks, auto lenders, credit card companies, debt collectors, mortgage lenders, and more are singled out for “illegal practices” against consumers in a CFPB report summarizing the bureau’s recoveries in the first half of the year. […]
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 […]
Federal Register summary: The Community Bank Advisory Council will discuss Know Before You Owe: Overdraft and financial empowerment initiatives
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 […]
Nominations for a new Comptroller of the Currency, and top regulatory supervisor at the Federal Reserve, will be considered Thursday by the Senate Banking Committee. The committee has scheduled votes on the nominations of Joseph […]
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 […]
Federal Register summary: The Credit Union Advisory Council will discuss Know Before You Owe overdraft and financial empowerment initiatives. Persons who need a reasonable accommodation to participate should contact CFPB _ 504Request@cfpb.gov, 202–435–9EEO, 1–855–233–0362, or 202–435–9742 […]
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