Article Archives – Page 80

Will the CFPB regulate Wal-Mart?

Bankers may not be squaring off against Wal-Mart in regard to the Consumer Financial Protection Bureau, but they will be watching to see how and when the retailer will fall under the Bureau’s oversight.

ABA Casts Dire Warning About Proposed Mortgage Rules

“Piecemeal regulation” under Dodd-Frank is, and will continue to be, so costly and unsustainable that community banks must examine whether they can continue to offer certain products and services – particularly in the mortgage lending area.

Back to business as usual for Elizabeth Warren?

Is Elizabeth Warren still considering a Senate run? That’s the question pundits are asking as the former de facto head of the Consumer Financial Protection Bureau returns to Harvard Law School.

Comments due Aug. 10 on mortgage forms, Round 3

Comments are due Wednesday, August 10, for Round 3 of the CFPB’s “Know Before You Owe” project, the result of which will be a new, combined Truth in Lending/RESPA mortgage disclosure form.

With Cordray’s hearing postponed, Republicans block recess appointment

Richard Cordray’s confirmation hearing has been postponed until Sept. 6, and until then House Republicans plan to hold pro forma sessions to prevent President Obama from naming Cordray the CFPB director via a recess appointment.

Proposed Rule Makes Three Key Changes to AMTPA

The CFPB has published for public comment an interim final rule regarding the Alternative Mortgage Transaction Parity Act (AMTPA). Public comments on the rule are due Sept. 22, 2011.

Banking industry trade groups advocate for CFPB changes

Representatives from the two largest trade associations representing the banking industry recently testified before Congress expressing concerns about the Consumer Financial Protection Bureau.

Warren’s departure opens ‘new chapter’ at CFPB

Elizabeth Warren has left her post at the CFPB, and Raj Date has taken her place leading the agency as the U.S. Treasury’s special adviser until a director is confirmed.

Who is the President’s choice to lead the CFPB?

At last, a nominee – but still no director in sight.

On July 18, just days before the CFPB officially opened for business, President Obama nominated former Ohio Attorney General Richard Cordray to lead the Bureau.

Industry offers constructive feedback early in mortgage form process

Industry experts have not been shy about sharing input with the CFPB about their proposed new combined Truth in Lending/RESPA mortgage disclosure form.

Round 1 (which included the Ficus and Pecan forms) drew some 13,000 responses. The CFPB analyzed where the responses came from by ZIP code and generated a heat map to measure where users clicked on the forms the most.