RSSCFPB proposes rule to reduce foreclosures
The Consumer Financial Protection Bureau proposed a rule last week that would make it harder for mortgage servicers to foreclose on borrowers.
Category Archives: News
CFPB, FHFA report reveals positive mortgage sentiments
Seventy percent of respondents to a CFPB/FHFA survey were satisfied with their mortgage property appraisal process, according to a recent survey.
CFPB extends Section 1071 compliance deadlines
The Consumer Financial Protection Bureau extended Section 1071 compliance deadlines, after the rule was temporarily paused amid a lawsuit challenging the constitutionality of the bureau’s funding structure.
Lawsuit against CFPB’s late fee rule to remain in Texas
The New Orleans-based U.S. Court of Appeals for the Fifth District recently disallowed the relocation of a lawsuit challenging the Consumer Financial Protection Bureau’s late fee rule to Washington, D.C.
Bill would require CFPB funding to be allocated through Congress
Senate Banking Committee Republicans introduced a bill last week requiring the Consumer Financial Protection Bureau to be funded through an annual Congressional appropriations process.
CFPB: BNPL lenders are credit card providers
The Consumer Financial Protection Bureau recently confirmed it intends to treat ‘buy now, pay later’ lenders as credit card providers by issuing an interpretive rule under which they must provide similar legal provisions.
CFPB: Student lending companies ignored payment relief requests
The Consumer Financial Protection Bureau recently filed a $5 million lawsuit against student loan servicers National Collegiate Student Loan Trusts and American Education Services for allegedly ignoring thousands of payment relief requests over six years.
CFPB: Complex pricing structures disadvantage consumers
Consumers often pay more for products with more complex pricing structures, according to an April 30 Consumer Financial Protection Bureau report.
Report: Mortgage servicers charged ‘illegal junk fees’
Mortgage servicers charged homeowners illegal “junk fees” and engaged in other illegal practices, according to a supervisory highlights report from the Consumer Financial Protection Bureau.
CFPB fines for-profit vocational school for lending violations
The CFPB fined San Francisco-based for-profit coding vocational school BloomTech and its CEO Austen Allred $164,000 for allegedly deceiving students about loan costs and making false claims about graduates’ hiring rates.
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