Article Archives – Page 2

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.

CFPB responds to COVID-19

The Consumer Financial Protection Bureau announced a number of changes to help consumers and regulated businesses amid the fallout from the COVID-19 pandemic. It suspended several data collection requirements, tweaked its examination structure and joined other federal regulators in urging financial institutions to work with impacted customers.

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.

CFPB, two states file suit against credit-offer brokers

The Consumer Financial Protection Bureau filed a lawsuit in federal district court in the District of South Carolina against Candy Kern-Fuller, Howard Sutter III, and Upstate Law Group LLC.

Report: CUs edge out banks in post-recession small business lending

While small business lending as a whole has increased since the Great Recession, fewer banks and thrifts are engaged in the market, according to a recent report from the Consumer Financial Protection Bureau.