RSSHouse Financial Services Committee Chairman questions CFPB building renovation
Last month, CFPB Director Richard Cordray came under sharp questioning at a House Financial Services Committee hearing by Chairman Jeb Hensarling (R-TX).
Category Archives: News
US Chamber of Commerce critical of CFPB
On February 12, the U.S. Chamber of Commerce sent a letter to CFPB Director Richard Cordray outlining three specific areas in which the Chamber is “seriously concerned that the bureau is not working toward clear, evenly applied, economically sound standards.”
CFPB wants lenders to disclose more mortgage data
The Consumer Financial Protection Bureau wants to expand its collection of residential mortgage data.
Constitutionality of CFPB upheld in Federal Court
On January 15, a federal district court in California rejected a constitutional challenge to the CFPB.
Banks in a bind on CFPB tracking of customer data
The Consumer Financial Protection Bureau is amassing mortgage and card data of bank customers across the country. From the standpoint of reducing banks’ mortgage compliance burden, the bureau’s project has the potential to help banks.
CFPB wants to supervise nonbank money transfer providers
Under a proposed rule, certain nonbank international money transfer providers would be subject to supervisory oversight from the Consumer Financial Protection Bureau.
Community bankers report to Fed on QM rule and tech-competitors for payment
Community bank members of the Federal Reserve’s Community Depository Institutions Advisory Council told the Fed community banks will wait to implement the Consumer Financial Protection Bureau’s mortgage framework until the law has been tested in court, according to Brian Johnson, CEO of Choice Financial Group, Grand Forks, N.D.
Missouri lender fined for mortgage kickbacks
Fidelity Mortgage Corporation of St. Louis and its former owner and current president Mark Figert have been ordered by the Consumer Financial Protection Bureau to pay $81,076 for illegal kickbacks.
Probe of for-profit colleges expanded
The Wall Street Journal recently reported that the Consumer Financial Protection Bureau has expanded an earlier probe into for-profit colleges.
CFPB issues preliminary arbitration study
Last month, the CFPB delivered preliminary results of a study into the use of arbitration clauses in consumer products.
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