CFPB Journal staff report – Page 30

American Express hit with fines from CFPB, other regulators

The Consumer Financial Protection Bureau issued its third major enforcement action, this time against American Express.

Discover hit with major penalty over telemarketing practices

The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation announced Monday a joint public enforcement action requiring Discover Bank to refund $200 million to some 3.5 million customers.

CFPB sues law firm over loan modifications

The Consumer Financial Protection Bureau has filed its first civil law suit, suing a Los Angeles law firm that charged homeowners for mortgage modifications that it allegedly didn’t perform.

CFPB to begin examining credit reporting companies

Credit bureaus will come under the regulatory supervision of the Consumer Financial Protection Bureau beginning Sept. 30.

Trade groups react to mortgage disclosure efforts

The American Bankers Association is not a fan of the Consumer Financial Protection Bureau’s proposal to come up with a combined RESPA/TILA form.

CFPB makes progress on effort to simplify RESPA and TILA forms

The Consumer Financial Protection Bureau is proposing changes to Reg X (Real Estate Settlement Procedures Act) and Reg Z (Truth in Lending Act).

CFPB considering options related to CARD Act’s ability to pay provision

The Consumer Financial Protection Bureau is in the process of reviewing public comments submitted in relation to the Bureau’s enforcement of the CARD Act, including its controversial “ability to pay” provision.

CFPB concerned about trends in market for reverse mortgages

Responding to a provision in the Dodd-Frank Act requiring the Consumer Financial Protection Bureau to study reverse mortgages, the CFPB released this report June 28.

The CFPB regulation of checking accounts will change overdraft

Larger banks could see lower earnings from checking account regulation by the Consumer Financial Protection Bureau.

CFPB proposes 26 percent increase in its budget

Richard Cordray, the director of the Consumer Financial Protection Bureau testified before the U.S. House Committee on Financial Services subcommittee on oversight and investigations Feb. 15 about the CFPB’s proposed budget.