The Consumer Financial Protection Bureau on Wednesday issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations.
The Consumer Financial Protection Bureau and three other federal agencies on Tuesday issued a joint statement cautioning financial firms that use of artificial intelligence could increase risk of bias and civil rights violations.
The Mortgage Bankers Association on Friday filed an amicus brief in litigation in response to a statement of interest filed by the Consumer Financial Protection Bureau and Department of Justice examining the liability standard that would apply to lenders for the acts of independent, third-party appraisers.
AREAL.ai, Los Angeles, released the Closing Disclosure Balancer Automation Tool, an AI-powered platform that allows lenders and their title agency partners to compare and balance Closing Disclosures to remain in full compliance with the CFPB’s TRID rules.
The Mortgage Bankers Association, in its second letter this week to the Consumer Financial Protection Bureau, urged the Bureau to withdraw a proposal requiring nonbanks to register and report their use of certain terms and conditions in form contracts for consumer financial products and services.
The Mortgage Bankers Association urged the Consumer Financial Protection Bureau to withdraw a controversial proposal requiring covered nonbank financial institutions to register with and report to the Bureau when they become subject to certain public local, state, or federal consumer financial protection agency or court orders.