The Consumer Financial Protection Bureau on Thursday issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.
Tag: Consumer Financial Protection Bureau
Supreme Court Rules Independent CFPB Director Unconstitutional
A divided Supreme Court on Monday ruled the current structure of the Consumer Financial Protection Bureau, with power resting with a single director, is unconstitutional, but stopped short of allowing the Trump Administration to dismantle the agency.
Supreme Court Rules Independent CFPB Director Unconstitutional
A divided Supreme Court on Monday ruled the current structure of the Consumer Financial Protection Bureau, with power resting with a single director, is unconstitutional, but stopped short of allowing the Trump Administration to dismantle the agency.
CFPB Issues Interpretive Rule on Determining Underserved Areas; Final Rule on Loss Mitigation Options for Homeowners with COVID-Related Hardships
The Consumer Financial Protection Bureau yesterday issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
Industry Briefs June 23, 2020
Black Knight, Jacksonville, Fla., said homeowners in active forbearance fell again last week. Overall, the number of active forbearance plans is down 57,000 from the previous week and 158,000 from the peak the week of May 22.
Sen. Fischer Reintroduces Bill to Create CFPB Commission; MBA, Trade Groups Send Letter of Support
Sen. Deb Fischer, R-Neb., reintroduced legislation last week that would change the structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission of five individuals.
Sen. Fischer Reintroduces Bill to Create CFPB Commission; MBA, Trade Groups Send Letter of Support
Sen. Deb Fischer, R-Neb., reintroduced legislation this week that would change the structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission of five individuals.
FCRA and the CARES Act: Putting in Right Procedures Now, Reducing Volume of Litigation Later
Over the past 10 years, Fair Credit Reporting Act lawsuits have almost quadrupled from some 1,350 cases in 2010 to 5,000 in 2019. FCRA allows plaintiffs to recover attorney fees, which may explain the increase.