May 2012 Articles – CFPB Journal

Ability to repay/QM: A review

The Consumer Financial Protection Bureau is expected to soon release an “ability to repay” proposed rule, which is likely to prominently detail the attributes of a “qualified mortgage” (QM).

CFPB targets prepaid cards

Prepaid cards are the latest focus of the Consumer Financial Protection Bureau.

GAO: Strengthen payroll procedures

A May 21, 2012 report from the Government Accountability Office identified seven internal control issues that the Consumer Financial Protection Bureau should consider fixing.

Small providers to review mortgage points proposals

The Consumer Financial Protection Bureau has begun the process of gathering input on rules to simplify mortgage points and fees – a change intended to bring greater transparency to the mortgage origination market.

House GOP wants more budget data from CFPB

In a May 2, 2012 letter to the Consumer Financial Protection Bureau, members of the House Financial Services Committee say that the “CFPB has been wholly unresponsive to our requests for additional budget information.”