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Inside the CFPB

March 30, 2020

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CFPB Stepping up to Help Lenders During the Pandemic

The CFPB has eased reporting of quarterly HMDA data. Nevertheless, the bureau is continuing with its supervisory activities and other essential functions. Read More

Debt-Collection Rule Public Comment Period Extended

Industry stakeholders have 30 more days to submit their feedback on a proposed rule that would require debt collectors to make certain disclosures under the Fair Debt Collection Practices Act. Read More

Extra CRA Credit for LMI Lending During COVID-19

Federal agencies will give “favorable consideration” under the Community Reinvestment Act to banks that help low- and moderate-income borrowers offset the economic impact of the coronavirus. Read More

Regulators to Turn a Blind Eye to Certain Loan Mods

The CFPB, along with other federal and state regulators, will not criticize financial institutions for certain loan modifications offered to borrowers facing coronavirus-related economic hardships. Read More

Differing State COVID-19 Orders Hindering Compliance

Mortgage lenders and servicers are facing compliance challenges due to a patchwork of coronavirus-related forbearance efforts at the federal, state and local levels, according to industry attorneys. Read More

Full Fifth Circuit Court to Weigh in on CFPB Fate

The full Fifth Circuit Court will review the constitutionality of the CFPB’s leadership structure, vacating a panel decision issued earlier in the month. Read More

Fourth Circuit Kills RESPA Co-Marketing Lawsuit

The Fourth Circuit Court dismissed a class action case concerning a co-marketing program under RESPA, noting the plaintiffs lack standing because they have not been overcharged. Read More

CFPB Task Force Seeks Input on Existing Regulatory Gaps

The CFPB is seeking feedback from the mortgage industry about potential changes to existing laws and to fill the regulatory gap. Read More

Other Coronavirus-Related News in Brief

The CFPB provides guidance for consumers to protect finances; Democratic senators introduce legislation to prohibit negative credit reporting; federal regulators encourage responsible small-dollar lending. Read More

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