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Inside the CFPB

September 26, 2022

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CFPB Seeks Feedback on Streamlined Refinancing, Servicing

The bureau wants to know how it can make it easier and less risky for consumers to refinance their mortgages, and how it could spur the creation of new products. Read More

Chopra Emphasizes Staying Ahead of Tech, Setting Norms

CFPB Director Rohit Chopra explains how the bureau’s recent big moves are tied to his views on the functioning and regulation of consumer financial markets and products. Read More

Republican Senators Warn Chopra Against ‘Abuse of Power’

Senate Republicans believe the bureau under Director Rohit Chopra has adopted an arrogant regulatory ethos. Read More

Appeals Court Reverses Controversial Mail Vendor Decision

The 11th Circuit Court of Appeals found that a plaintiff alleging a Federal Debt Collection Practices Act violation had to prove concrete harm, not just a statutory violation, to have standing. Read More

Bureau to Regulate Buy Now, Pay Later Industry

CFPB Director Rohit Chopra has directed bureau staff to look into possible rules for buy now, pay later products in five areas. Read More

Chopra Open to Idea of Defanging Forced Arbitration

While the CFPB has no plans to restrain the use of forced arbitration clauses, Director Rohit Chopra is open to the idea. Read More

1071 Rules on Track, Compliance Industry Responding

The CFPB is hiring for the technical implementation of the project, and vendors are introducing compliance products. Read More

New CRA Bill Encourages Closer Community Ties, Tougher Ratings

Rep. Maxine Waters, D-CA, introduced a bill this month to vastly expand how much data financial institutions report to receive their Community Reinvestment Act ratings. The bill would mandate negative rating credit for any known discriminatory behavior. Read More

Other News in Brief

CFPB ending compliance assistance sandbox, no-action letters; 2021 new HMDA analysis; All American Check Cashing settlement falls through; CFPB redressing over 8,000 consumers in debt collection case; CFPB, FTC reaffirm strong FCRA furnishing requirements; FTC, California’s DFPI enforce against alleged mortgage relief scam. Read More

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