Welcome to the CFPB Journal, your online publication for information about the Consumer Financial Protection Bureau.

If you work in financial services, you need CFPB Journal. Our team of seasoned reporters and editors brings you original coverage of the Bureau you won’t find anywhere else. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve-housed Bureau has unprecedented authority, jurisdiction and power. Follow CFPB developments, learn how others are complying with CFPB rules, and monitor general public reaction to the Bureau by checking in often with the CFPB Journal.

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Spotlight

Proposed small business data collection rules would exclude smaller lenders

Under a new set of proposals from the Consumer Financial Protection Bureau, smaller lenders would be excluded from small business data collection requirements. The proposals are part of the implementation of section 1071 of the Dodd-Frank Act, which requires that data be collected and reported for small-business lending as well as lending to women- and minority-owned businesses.

News

CFPB settles with mortgage companies

The Consumer Financial Protection Bureau has settled with a pair of mortgage companies over deceptive advertisements targeted at servicemembers and veterans.

CFPB reaches $122 million settlement with TD Bank

In a settlement with the Consumer Financial Protection Bureau, TD Bank will pay a $25 million fine and $97 million in restitution to roughly 1.42 million customers affected by the bank’s illegal overdraft fees.

CFPB proposes new QM category

The Consumer Financial Protection Bureau wants to create a new category of “seasoned” qualified mortgages in order to “encourage innovation and help ensure access” to the mortgage credit market.

Time-barred debt collection proposal garners criticism

The comment period for the CFPB’s supplemental notice of proposed rule-making regarding the collection of time-barred debt closed on Aug. 4, attracting criticism from banker and consumer groups that it’s not adequately comprehensible.