News – Page 31 – CFPB Journal

CFPB finalizes ‘Know Before You Owe’ amendment

The amendment will clarify when creditors may pass on increased costs to consumers and disclose them on a closing disclosure under the October 2015 rule.

House takes up legislation requiring more CFPB transparency

The Give Useful Information to Define Effective Compliance Act was introduced by Rep. Sean Duffy (R-Wis.) and Rep. Ed Perlmutter (D-Colo.) on April 17.

Mulvaney makes CFPB name change official

CFPB Seal

The agency formerly known as the Consumer Financial Protection Bureau will now be the Bureau of Consumer Financial Protection, Acting Director Mick Mulvaney told an audience of more than 1,300 bankers at an American Bankers Association conference.

RFI addresses consumer complaints and inquiries

The Consumer Financial Protection Bureau’s request for information on its handling of consumer complaints and inquiries is the 12th in a series of RFIs issued as part of Acting Director Mick Mulvaney’s reassessment of bureau practices.

Monthly complaint, supervisory highlights reports go dormant

Two sets of reports previously regularly issued by the Consumer Financial Protection Bureau are no longer being updated, and the agency hasn’t offered a public explanation.

Mulvaney wants CFPB inspector general, legislative approval of major rules

Mick Mulvaney

Acting Director Mick Mulvaney offered four suggestions to change the Consumer Financial Protection Bureau in order to “protect [citizens] from government overreach” in his first semi-annual report to Congress.

CFPB asks for feedback on inherited rules

The Consumer Financial Protection Bureau issued a request for information on its inherited regulations and inherited rulemaking authorities and extended deadlines for three other RFIs.

Rats run rampant at CFPB headquarters

News surfaced last week of trouble at the Consumer Financial Protect Bureau, but the issues had nothing to do with President Trump or federal court decisions.

CFPB, FTC issue joint report on illegal debt collection practices

The Consumer Financial Protection Bureau and the Federal Trade Commission, which share enforcement responsibilities under the Fair Debt Collection Practices Act released a joint report on their efforts to combat illegal debt collection practices in 2017.

CFPB issues final rule to facilitate mortgage communication

The rule, an update to the 2016 mortgage servicer rule, is aimed at improving communication between mortgage servicers and consumers in bankruptcy. It goes into effect April 19.