Cart

Inside the CFPB

January 16, 2024

View Archived Issues

Escrow Case at Supreme Court About More Than Escrows

Laws in a number of states require mortgage servicers to make interest payments to borrowers on funds held in escrow. The Supreme Court will hear oral arguments on the matter in February, helping to clarify the OCC’s stance on federal preemption. Read More

Mixed Reaction to CFPB’s Open Banking Proposal

Industry participants and consumer advocates separately applauded the CFPB’s Section 1033 proposal on open banking. There were also plenty of suggestions for adjustments among the thousands of comment letters submitted. Read More

CFPB Working on Speeding Enforcement Investigations

The CFPB has a goal to close 65% of its enforcement investigations within two years of the start of an investigation. The agency has been nowhere near that goal in recent years. Read More

CFPB Supports FDCPA Claim Against Debt Collector

The Fair Debt Collection Practices Act’s prohibition on false, deceptive or misleading representations applies even if such representations are made unintentionally and unknowingly, the CFPB said in an amicus brief filed with the U.S. Court of Appeals. Read More

Payments Players Seek Carve Outs From CFPB Proposal

The CFPB estimated that its proposal to establish oversight of payments providers would apply to 17 companies. Companies subject to the proposal are seeking exemptions while consumer advocates called for more expansive protections. Read More

CFPB Flags Issues in Student Loan Servicing Practices

The challenges borrowers of student loans face include long hold times on phone calls, delays in application processing and inaccurate billing statements. Read More

FTC Fines Lead Generator $7M for Tricking Consumers

Response Tree allegedly operated more than 50 websites that used deception and dark patterns to trick consumers into providing personal information that was sold to telemarketers. Read More

Other News in Brief

CFPB issues advisory opinions on background checks, credit file disclosures requested by consumers; banks critical of advisory opinion on information requests; banks look to slow overdraft rulemaking; new servicing requirements in California; Senate fails to override veto of bill that would halt Section 1071 data collection. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results