The Consumer Financial Protection Bureau announced a number of changes to help consumers and regulated businesses amid the fallout from the COVID-19 pandemic. It suspended several data collection requirements, tweaked its examination structure and joined other federal regulators in urging financial institutions to work with impacted customers.
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The Consumer Financial Protection Bureau filed a lawsuit against Commonwealth Equity Group, LLC, which does business as Key Credit Repair, and its president and owner Nikitas Tsoukales.
The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors have issued a guide describing borrowers’ rights to mortgage payment forbearance and foreclosure protection under federal law.
The Consumer Financial Protection Bureau has issued a final rule covering remittances transfers which raises the reporting threshold for those institutions making relatively few annual remittances.
The Consumer Financial Protection Bureau has issued clarifications to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic.
The Consumer Financial Protection Bureau issued guidance that mortgage servicers should use to facilitate compliance and prevent harm to consumers during the transfer of residential mortgages.