June 17, 2024

Republican Lawmakers Are on CFPB’s Back Once Again

Senate Republicans last week introduced legislation that would require the CFPB’s funding to be subject to the appropriations process in Congress. Read More

CFPB Addresses Data Privacy, AI Regulation Standards

The CFPB plans to finalize its personal financial data rights rule this October, Director Rohit Chopra informed lawmakers on Capitol Hill last week. He also highlighted the need for more oversight of technology companies. Read More

ABA Says It Will Continue to Challenge Unnecessary Rules

The ABA is expecting the CFPB to finalize two rules — one on overdraft fees and another on nonsufficient funds fees — within the next few months. Read More

CFPB Registry on Nonbank Compliance Faces Opposition

Pete Mills, a senior vice president at the Mortgage Bankers Association, said the registry is an “unnecessary and redundant move.” The final rule requires nonbanks to report to the CFPB any government or court orders penalizing them for violations of consumer protection laws. Read More

Industry Experts Seek Adoption of Mortgage Compliance Dataset

The new dataset will standardize the exchange of information used by state and other regulators for mortgage exams. Read More

CFPB Proposes Rule Banning Medical Debt on Credit Reports

The proposed rule is the first of more amendments to the Fair Credit Reporting Act by the bureau, according to industry attorneys. Read More

CFPB Issues Warning on Deceptive Contract Provisions

A new circular expands on previous CFPB actions to protect consumer rights involving contract terms. Read More

CFPB Finalizes Rule for Open Banking Standard Setters

The CFPB has outlined qualifications required by standard-setting organizations to be formally recognized as such. The move paves the way for the bureau’s upcoming personal financial data rights rule. Read More

Other News in Brief

CFPB sets likely date for implementation of its payday lending rule; OIG clears CFPB on civil penalty fund activities. Read More

Inside the CFPB

View Archived Issues

Republican Lawmakers Are on CFPB’s Back Once Again

CFPB Addresses Data Privacy, AI Regulation Standards

ABA Says It Will Continue to Challenge Unnecessary Rules

CFPB Registry on Nonbank Compliance Faces Opposition

Industry Experts Seek Adoption of Mortgage Compliance Dataset

CFPB Proposes Rule Banning Medical Debt on Credit Reports

CFPB Issues Warning on Deceptive Contract Provisions

CFPB Finalizes Rule for Open Banking Standard Setters

Other News in Brief

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Inside the CFPB

June 17, 2024

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