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Inside the CFPB

January 3, 2022

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Trade Groups Call for Tech Payment System Oversight

The banking industry and consumer advocacy groups want regulators to ensure big tech companies operating payment-processing systems provide protections similar to those offered by the banking sector. Read More

Robo-Discrimination, Repeat Offenders on CFPB’s Radar

Dealing with the risks posed by the use of algorithms in marketing financial products and with institutions abusing their dominant market positions are some of the key priorities for the CFPB. Read More

Regulators Highlight Fair Lending Best Practices

During a recent interagency webinar, representatives from eight federal regulators discussed fair lending issues, including initiatives to tackle redlining and how companies can self-regulate. Read More

FDIC Chair Steps Down After Feud With CFPB’s Chopra

The resignation of Jelena McWilliams, a Trump appointee, paves the way for Democratic control of the FDIC board. Read More

Mortgage Industry Favors NMLS Modernization Plan

Mortgage professionals have a target list: lead agency determination, duplication of work and user control. Read More

CFPB Shuts Down ‘Repeat Offender’ LendUp Loans

LendUp Loans agreed to a $100,000 settlement to resolve charges of repeated violations of fair lending laws. Two previous actions against the company yielded nearly $5 million in penalties and redress. Read More

CFPB, DOJ Remind Servicers of Servicemembers’ Housing Rights

The agencies outlined lease termination, eviction and foreclosure protections as key issues tied to military families. Read More

Consumer Group Raises Concerns Over Rental Debt

The National Consumer Law Center requested the CFPB institute rules that would help spread the word about the rental assistance program and protect consumers from negative consequences while they waited for relief funds. Read More

Other News in Brief

Asset-size exemption thresholds altered; state AGs ask FHA to push servicers to implement COVID-19 loss-mitigation offerings; bureau survey results show some consumers’ finances improved during the pandemic; CFPB joins amicus brief in lawsuit over who counts as a credit “applicant.” Read More

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