In the final weeks before the new Republican administration takes over, the CFPB’s rulemaking process is expected to slow, but enforcement activity could increase, according to industry attorneys.
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Among the changes expected in Trump 2.0, a new bureau director, and a focus on technical requirements of statutes and regulations and less aggressive statutory and regulatory interpretations.
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The credit union agreed to pay $95 million in consumer refunds and fines to resolve a CFPB investigation that found the company illegally charged overdraft fees.
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The bureau’s advisory opinion on medical debt collection practices violates the Administrative Procedure Act as it creates new rules, according to an association representing credit and collection professionals.
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Federal Reserve examiners found that all Real Estate Settlement Procedures Act violations it encountered at banks in 2023 were tied to escrow account requirements.
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CSBS is taking a close look at loan officer education compliance; CFPB fines Global Tel Link $3 million; CFPB releases details from student loan survey; pilot study by CFPB finds differences in how lenders treat minorities that own small businesses; Comerica Bank files lawsuit challenging CFPB investigation; Fifth Circuit denies request to reopen case against CFPB’s payday lending rule.
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