10.16.19
Is the CFPB putting its own prior conduct at risk? Over the last few weeks at the Consumer Financial Protection Bureau (CFPB or Bureau), Director Kathleen Kraninger herself declared the structure of the CFPB unconstitutional, placing the director in a position arguably adverse to her own ...
09.25.19
Siding with six consumers who filed suit asserting violations of state usury laws against online lenders, the U.S. Court of Appeals for the Eleventh Circuit has affirmed a decision by the U.S. District Court for the Southern District of Georgia, holding that the enforcement of forum selection ...
In Consumer Financial Protection Bureau (CFPB) news, the CFPB published its Summer 2019 supervisory highlights, and focused on auto loan originations, credit card account management, debt collection, credit furnishing and mortgage originations.
08.28.19
In Consumer Financial Protection Bureau (CFPB or Bureau) news, the battle over its constitutionality continues in a New York federal court, the Bureau announced more enforcement activity, student lending remained a hot-button issue and Sen. Sherrod Brown (D-Ohio) called for the CFPB to move forward ...
California non-bank consumer lenders are moving away from small-dollar short term payday loans and are, instead, embracing longer-term installment loans with amounts over $2,500 to avoid interest rate caps, according to the state’s banking regulator.
08.14.19
The California Department of Business Oversight (DBO) has issued its long-awaited draft regulations to implement SB 1235, a 2018 law requiring consumer-like disclosures for commercial financing in California. The DBO has requested public comment on these draft regulations, giving interested ...
In another busy stretch for the Consumer Financial Protection Bureau (CFPB or Bureau), lawmakers reached out to the Bureau and the Department of Education (ED) regarding protections for student borrowers, while the CFPB and the New York attorney general reached a $60 million deal with a group of ...
On July 31, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a third update to its TILA-RESPA Integrated Disclosure (TRID) FAQs, providing new questions and answers regarding giving loan estimates to consumers.
07.17.19
The Consumer Financial Protection Bureau (CFPB or Bureau) turned its focus to rulemaking, with the Bureau issuing a final rule amending Regulation CC and extending the comment period on the advanced notice of proposed rulemaking (ANPR) on the Home Mortgage Disclosure Act (HMDA).
07.03.19
As a more centrist Consumer Financial Protection Bureau (CFPB) issued a modest annual fair lending report, Democratic lawmakers continue to press a far more aggressive fair lending agenda, as reflected by a letter sent by Sens. Elizabeth Warren (D-Mass.) and Doug Jones (D-Ala.) to the Federal ...