August 2012 Articles – CFPB Journal

With myriads of rules unwritten, lead CFPB attorney leaves the Bureau

The Consumer Financial Protection Bureau’s rule-writing department now needs a qualified leader as it finalizes a deluge of new regulations by January 2013.

Bankers beware, that new customer might be a CFPB operative

On July 23, the Consumer Financial Protection Bureau began recruiting investigators.

Bank regulation now has its Facebook

On August 10, the Consumer Financial Protection Bureau began using an online social-media-chat-room to collect comment on proposed rules from everyday consumers.

Proposed rules permit mortgage lenders to charge upfront points, fees

In an update to a story we ran May 16, the Consumer Financial Protection Bureau is seeking public comment on rules governing mortgage originations.

CFPB criticized for lackluster approach to reducing regulatory burden for small banks

In a statement submitted to the House Committee on Small Business for its August 1 hearing, the American Bankers Association criticized the Consumer Financial Protection Bureau for its lackluster compliance with the Small Business Regulatory Enforcement Fairness Act.

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.