The tactics used by TCF Bank, for which the Consumer Financial Protection Bureau filed a lawsuit against the company, are no different than the methods employed by insurance salesmen, and the bureau will be hard pressed to prove consumers didn’t understand what they were signing up for, argues Publisher Tom Bengtson.
The Consumer Financial Protection Bureau took another step to coordinate efforts with state regulatory agencies when it signed an agreement with the Conference of State Bank Supervisors on May 21.
Steven L. Antonakes, Acting Deputy Director at the Consumer Financial Protection Bureau, spoke to a group of bankers on Thursday, April 18 in Des Moines, Iowa. In his 45-minute presentation, he explained how the bureau decides which institutions to examine.
Speaking at a field hearing in Des Moines, Iowa, CFPB Director Richard Cordray invited citizens from all ranks of society to use the data contained in its recently-expanded complaint data base.
Responding to a lawsuit filed nearly two years ago by a Sioux Falls bank, the Consumer Financial Protection Bureau has issued a final rule amending the Credit Card Accountability and Disclosure Act of 2009.
Credit union advocates are encouraging the Consumer Financial Protection Bureau to give them favorable treatment over other kinds of financial institutions, such as mortgage lenders.
The Consumer Financial Protection Bureau published its final “ability to repay” mortgage rule on Jan. 10, 2013. This long-anticipated rule becomes effective on Jan. 10, 2014.
As the number of smaller banks declines, the number of banks exempted from the Home Mortgage Disclosure Act also declines.
The Consumer Financial Protection Bureau is teaming up with the Federal Housing Finance Agency to create a National Mortgage Database.
At more than $1 trillion, student loan debt is now the largest source of consumer debt, even ahead of credit cards.