RSSCFPB issues final remittance rule
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.
Author Archives: CFPB Journal staff report
CFPB clarifies rules to increase mortgage access
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.
CFPB outlines mortgage transfer process best practices
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.
CFPB raises HMDA data reporting threshold
The Consumer Financial Protection Bureau issued a final rule raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act.
CFPB relaxes real estate appraisal requirements
The Consumer Financial Protection Bureau issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under interagency appraisal regulations.
CFPB settles with short-term lender
The Consumer Financial Protection Bureau has settled with Cottonwood Financial, Ltd., over a number of consumer protection violations.
Sen. Sherrod Brown wants agencies to halt non-COVID-19 rulemaking
A Senate democrat urged federal financial regulators to shelve rulemaking projects that aren’t related to the coronavirus pandemic, and suggested the agencies’ priority be protecting the financial system and mitigating economic fallout from the outbreak.
New report explores trends for first-time homebuyers
First-time homebuyers have consistently accounted for about half of all home purchase mortgages since 2002, according to a new report from the Consumer Financial Protection Bureau.
CFPB wants to pay whistleblowers
The Consumer Financial Protection Bureau is working on legislation to authorize payments to whistleblowers who report violations of Federal consumer financial law.
Fifth Third likely to be hit with suit over fake accounts
Cincinnati’s Fifth Third Bancorp is facing potential action from the Consumer Financial Protection Bureau over allegations it opened unauthorized accounts, according to Bloomberg Law.
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