Consumer complaints filed with the CFPB increased sharply in the first three months of 2023, driven by a jump in seven out of the nine complaint categories. (Includes two data charts.)
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Rising interest rates made it a lot harder to qualify for a refi in 2022, according to a new analysis of HMDA data. The denial rate on applications for refis nearly doubled for certain loan products. (Includes data chart.)
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The CFPB’s efforts to combat redlining include a new emphasis on discriminatory targeting. The regulator’s argument for the application of ECOA in instances of reverse redlining is being questioned.
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The CFPB issued an advisory opinion last week reinforcing that the Fair Debt Collection Practices Act includes protections against collections on time-barred debt, including second liens originated prior to 2008.
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The MBA submitted a brief in court pointing out flaws with legal arguments from the CFPB and DOJ regarding the liability lenders face from appraisers.
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A new study has found that the California Consumer Protection Act increased California mortgage interest rate spreads — especially for banks — and contracted the supply of credit to low-income areas.
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The CFPB and three other federal agencies issued a statement highlighting concerns about bias in automated systems. The CFPB is particularly concerned about home valuations, lending and marketing.
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New APOR calculations; regulators help with LIBOR transition; CFPB puts credit reporting agencies on alert; data breach involving former CFPB employee; lender settles with Arizona AG.
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