Delinquent mortgages double during the pandemic

The number of homeowners who are behind on their mortgage payments has doubled since the pandemic hit last spring, according to a report released by the Consumer Financial Protection Bureau. 

Biden nominates Chopra to head CFPB

President-elect Joe Biden announced numerous appointments on Monday, including  Rohit Chopra to be the director of the Consumer Financial Protection Bureau.

CFPB changes disclosure of records and debt collection rules

The Consumer Financial Protection Bureau finalized changes to its regulations regarding the disclosure of records and information. It also published a portion of its long-awaited Fair Debt Collection Practices Act rulemaking to modernize and clarify rules around third-party debt collection.

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.

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.

Kraninger approaches small business data collection rules with care

At a public symposium last week, academics, market participants and policy-makers gathered to discuss effective implementation of a Dodd-Frank Act section which would increase public data about small business lending, specifically those owned and operated by women and minorities.

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