News – Page 46 – CFPB Journal

CFPB’s TRID rule delays closures, reduces mortgage offerings

The new TILA-RESPA Integrated Disclosure rule from the Consumer Financial Protection Bureau is delaying mortgage closures and causing banks to trim their offerings, according to a survey.

An analysis of abusive practices as understood by the CFPB

A recent report by K&L Gates highlights the conclusions that can be drawn from the CFPB’s understanding of an abusive act.

Former Ally CEO charges CFPB with shakedown

Former Ally Financial Inc., CEO Michael A. Carpenter said the CFPB abused its power by holding the bank’s business hostage in order to coerce a record settlement of “trumped-up” racism charges and push profit-killing new regulations on the entire auto-lending industry.

CFPB and FDIC signal increased expectations for banks on serving underbanked

Consumer Financial Protection Bureau Director Richard Cordray and FDIC Chair Martin Gruenberg have called on bankers to do more to serve unbanked and underbanked in the last month.

Federal Reserve Chair not real sure about the CFPB Budget

Fed Chair Janet Yellen was on Capitol Hill last week making her semiannual visit before the House Financial Services Committee. When she was asked basic information about the CFPB, Yellen appeared to lack basic knowledge of the Bureau’s budget.

Super Bowl ad criticized by CFPB

Among the many Super Bowl ads aired this past Sunday, one drew the ire of the Consumer Financial Protection Bureau.

CFPB claims exemption from statute of limitations

Last month, the Consumer Financial Protection Bureau traded briefs in federal court with Integrity Advance regarding Integrity’s motion to dismiss a CFPB enforcement action alleging violations of the Unfair, Deceptive or Abusive Acts and Practices clause of the Real Estate Settlement Procedures Act.

Audit requires CFPB to take better care of consumer information

An independent audit of the Consumer Financial Protection Bureau shows it needs to update information privacy policies and procedures to better protect consumers.

PHH challenges CFPB enforcement action

A court date of April 12 has been set for the next stage in a legal challenge to the Consumer Financial Protection Bureau’s enforcement power.

CFPB prepares to “enhance” small business lending

On Dec. 23, the CFPB closed the application period for an assistant director, small business lending markets, a job paying up to $275,000 for identifying opportunities to “enhance fairness, transparency and functioning” of small business lending markets.