June 2012 Articles – CFPB Journal

CFPB concerned about trends in market for reverse mortgages

Responding to a provision in the Dodd-Frank Act requiring the Consumer Financial Protection Bureau to study reverse mortgages, the CFPB released this report June 28.

Senior staff changes made

The Consumer Financial Protection Bureau announced several high-level staff changes last week.

CFPB publishing data about credit card complaints

The Consumer Financial Protection Bureau announced June 19 that it is publishing data surrounding consumer complaints on credit cards, and that it plans to publish information about other kinds of complaints in the future.

Recess appointment heightens CFPB’s sense of urgency

The advocacy group Judicial Watch, recently obtain documents through a Freedom of Information filing which show that Richard Cordray, Director of the Consumer Financial Protection Bureau, acknowledged the constitutional uncertainty surrounding his recess appointment by President Obama.

CFPB re-opens comments on ability-to-repay

The Consumer Financial Protection Bureau is re-opening the comment period on a proposed rule that addresses new ability-to-repay requirements for mortgages, as well as the definition of “qualified mortgage.”