Article Archives – Page 16

Refinance boom drives mortgage spike, CFPB report finds

The total number of closed-end originations as well as applications increased substantially between 2019 and 2020, according to a report from the Consumer Financial Protection Bureau.

CFPB settles with debt collector

The Consumer Financial Protection Bureau has filed a proposed settlement, including an $850,000 civil money penalty, to resolve a lawsuit against a debt collection company and its owner.

CFPB wants mortgage servicers to audit pandemic response metrics

Mortgage servicers should compare internal metrics to data in a recently released agency report to “identify opportunities for, and demonstrate concrete efforts toward, improvement,” the Consumer Financial Protection Bureau said.

Debt collection rules will go into effect as planned

The Consumer Financial Protection Bureau confirmed that two proposed rules issued under the Fair Debt Collection Practices Act will take effect as planned, on November 30.

Consumer credit applications rebound to pre-pandemic numbers

Consumer credit applications, including mortgages, car loans and credit cards, have largely returned to pre-pandemic levels, according to a report from the Consumer Financial Protection Bureau.

CFPB, FDIC update financial literacy program for elders

The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp., have released an enhanced version of their financial education curriculum, “Money Smart for Older Adults”.

CFPB fines GreenSky over fraudulent loans

The Consumer Financial Protection Bureau issued a consent order against GreenSky, LLC, alleging the Atlanta company enabled contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them.

CFPB issues temporary foreclosure rules as moratorium ends

The Consumer Financial Protection Bureau is issuing rules to ease the move from the foreclosure moratorium to resumption of normal business.

CFPB will resume MLA exams

The Consumer Financial Protection Bureau issued an interpretive rule laying out its plans to resume examinations for conduct violating the Military Lending Act.

CFPB lays out rulemaking agenda

The Consumer Financial Protection Bureau outlined its rulemaking agenda for the next six months under Acting Director Dave Uejio.