The NCLC is asking the bureau to pursue rulemaking to apply the Equal Credit Opportunity Act’s adverse action requirement to renters and ban the use of medical debt in tenant screening decisions.
As part of the iOS 18 update, Apple will allow app developers to offer their own forms of contactless transactions, beyond Apple Pay and Apple Wallet. CFPB has called for feedback on the change.
The American Bankers Association said a proposed interpretative rule will discourage banks from EWA products, limiting access to a convenient and potentially free source of small dollar, short-term liquidity.
CFPB issues consumer advisory on financial risks associated with video games; DC Attorney General snags more than $3.2 million in total penalties from settlements with title companies.
Experts recommend industry stakeholders start working with the new credit scores if they want to be prepared when the transition from FICO Classic to FICO 10 T and VantageScore 4.0 goes into effect.
The FHLBanks last year agreed to voluntarily raise their contributions to affordable housing programs from 10% of net income to 15%, but they balked at Treasury’s suggestion to increase that to 20%.
The mortgage giant has implemented a requirement that seller/servicers maintain and share records of the types of fraud they see as well as any specific fraud cases they’re aware of.
Landlords who repeatedly fail to provide tenants the new enterprise protections could be subject to a 0.20% penalty on their original loan amount or even a default.
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