July 2014 Articles – CFPB Journal

Proposed HMDA rule would expand data collection

The Consumer Financial Protection Bureau has issue a proposed rule expanding the collection of information required under the Home Mortgage Disclosure Act.

CFPB will take complaints on nonbank products

The Consumer Financial Protection Bureau will now begin accepting consumer complaints about prepaid cards and other nonbank products, the bureau announced earlier this week.

CFPB to expand online complaint database

The Wall Street Journal reports that the Consumer Financial Protection Bureau has proposed expanding its online complaint system to capture more detailed narrative information from consumers

CFPB pulls back on plan to control consumer complaint data

Before July 14, the Consumer Financial Protection Bureau was working to get banking industry feedback on a contract to govern banks’ use of consumer complaint data.

CFPB warns against misuse of ‘mini-correspondent’ label

The Consumer Financial Protection Bureau has issued guidance warning mortgage brokers against the misuse of the “mini-correspondent” lender identification.

ABA objects to proposed CFPB arbitration study

The American Bankers Association joined two other trade groups in urging the Office of Management and Budget not to approve a survey on credit card arbitration agreements proposed by the CFPB.

CFPB renovation costs increase again

Estimated renovation costs for the rented headquarters of the Consumer Financial Protection Bureau have increased yet again, to approximately $215 million, according to a report from the Federal Reserve’s Inspector General Mark Bialek.