NEW YORK—Consumer Financial Protection Bureau Director Rohit Chopra says the future of consumer finance—and financial regulation—lies in technology.
Tag: Consumer Financial Protection Bureau
CFPB: ECOA Protects Borrowers After Applying for, Receiving Credit
The Consumer Financial Protection Bureau on Monday published an advisory opinion affirming the Equal Credit Opportunity Act—a federal civil rights law protecting individuals and businesses against discrimination in accessing and using credit—bars lenders from discriminating against customers after they have received a loan, not just during the application process.
CFPB Invokes ‘Dormant Authority’ to Examine Nonbank Companies Posing Risks to Consumers
In a highly unusual move, the Consumer Financial Protection Bureau on Monday announced it would invoke a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.
The Week Ahead, Apr. 25, 2022: MBA National Advocacy Conference and 4 Other Things to Know
Good morning and happy Monday! Here’s what’s happening in the real estate finance world this week:
Housing Market Roundup Apr. 21, 2022
Here is a summary of housing/economic stories that recently came across the MBA NewsLink desk:
Industry Briefs Apr. 18, 2022: Wells Fargo Expands Efforts to Advance Racial Equity in Homeownership
Wells Fargo, San Francisco, announced an initiative to help advance racial equity in homeownership. The company will develop a Special Purpose Credit Program to help minority homeowners, whose mortgages are currently serviced by Wells Fargo, refinance those mortgages. Initially, through the program, Wells Fargo will identify eligible Black homeowners who could benefit from a refinance product.
MBA Weighs in on CFPB Fees
The Mortgage Bankers Association weighed in with the Consumer Financial Protection Bureau regarding its request for comment on fees imposed by consumer financial product and service providers.
MBA Weighs in with CFPB Regarding Fees
The Mortgage Bankers Association weighed in with the Consumer Financial Protection Bureau regarding its request for comment on fees imposed by consumer financial product and service providers.
Industry Briefs Apr. 1, 2022: Homebridge Launches ‘Our Community’
Homebridge Financial Services Inc., Iselin, N.J., launched its “Our Community” hub on the company’s website. This resource provides a new level of transparency about Homebridge’s current diversity and inclusion internal workforce efforts and measures progress.
Industry Briefs Mar. 25, 2022: CFPB Targets ‘Unfair Discrimination’ in Consumer Finance
The Consumer Financial Protection Bureau announced changes to its supervisory operations it says will better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply.