The Consumer Financial Protection Bureau announced a number of changes to help consumers and regulated businesses amid the fallout from the COVID-19 pandemic. It suspended several data collection requirements, tweaked its examination structure and joined other federal regulators in urging financial institutions to work with impacted customers.
A Senate democrat urged federal financial regulators to shelve rulemaking projects that aren’t related to the coronavirus pandemic, and suggested the agencies’ priority be protecting the financial system and mitigating economic fallout from the outbreak.
First-time homebuyers have consistently accounted for about half of all home purchase mortgages since 2002, according to a new report from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau is working on legislation to authorize payments to whistleblowers who report violations of Federal consumer financial law.
Cincinnati’s Fifth Third Bancorp is facing potential action from the Consumer Financial Protection Bureau over allegations it opened unauthorized accounts, according to Bloomberg Law.