Tuesday, October 11, 2016 - 15:09

Eric C. Peck - NMP Editor in Chief

Original article can be found HERE.

 

A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit has called for the President to remove the single-director structure of the Consumer Financial Protection Bureau (CFPB), calling the appointment unconstitutional. In the 110-page ruling, the U.S. Court of Appeals called for limits to the power of the president, and disband the CFPB’s current single-director power structure.

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CFPB levies $100 million fine against Wells Fargo

Employees opened more than 2 million fake accounts to get sales bonuses

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CFPB's eRegulations is a web-based tool that makes regulations easier to find, read, and understand. The tool has been expanded to include three additional Bureau regulations. We are also updating an existing regulation to reflect changes that the Bureau has recently made.
We have added the following regulations to the website:
We have also updated Regulation Z (Truth in Lending Act) to reflect recent changes.

We expect to add additional regulations and to update existing regulations when they change! 

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This Week in Washington
Thursday, March 17, 2016
ORIGINAL ARTICLE CAN BE FOUND HERE.

 

The Consumer Financial Protection Bureau (CFPB) announced that the Federal Reserve will be hosting a webinar on the TILA-RESPA Integrated Disclosure (TRID) rule, also known as Know Before You Owe, at 2 p.m. EDT Tuesday, April 12. This is the CFPB’s second webinar since the rule was implemented Oct. 3, 2015. The first post-implementation webinar took place on Tuesday, March 1.

Anyone who would like to participate in the webinar can register here.

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BY  · FEBRUARY 23, 2016
ORIGINAL ARTICLE CAN BE FOUND HERE.

Good Tuesday morning from our nation’s capital! I’m happy to be in attendance alongside the nearly 5,000 credit union professionals at this year’s CUNA Governmental Affairs Conference (GAC). GAC is a tremendous opportunity to network with others in the industry and share stories of the #CUdifference with our legislators and regulators.

As always, CUNA has done a great job of putting together a jam packed agenda here in Washington, D.C. As a result, I’ll keep today’s post brief. You know, it’s funny. I can actually hear my regular readers (all three of them) breathing a collective sigh of relief.

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By
ORIGINAL ARTICLE CAN BE FOUND HERE.

The Consumer Financial Protection Bureau openly acknowledged that the transition to new mortgage-disclosure requirements presents a major challenge for lenders, saying it will give them some leeway in upcoming exams.

"We're very aware of the significant challenges the industry has faced in order to get into compliance with this rule," said Allison Brown, a program manager in mortgage servicing in the CFPB's office of supervision policy.

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By J. Daniel YoungFebruary 09, 2016
ORIGINAL ARTICLE CAN BE FOUND HERE.

The Director of the CFPB offered clarification on his call to actionfor financial institutions to offer accounts that can't produce a negative balance during his fifth webinar with the NCUA on Feb. 9.

NCUA Chairman Debbie Matz hosted Director Richard Cordray during the afternoon webinar in which he was quizzed on the agency’s call to action and a bulletin warning that inaccurate reporting data used in the checking account screening process could result in action by the bureau.

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Monday, February 8, 2016 - 12:19

By: Phil Hall

THE ORIGINAL ARTICLE CAN BE FOUND HERE.

Cam Newton wasn’t the only one that kept getting tackled during the Super Bowl. In a surprise running commentary while the big game was in progress, the Consumer Financial Protection Bureau (CFPB) used Twitter to criticize Quicken Loans’ Super Bowl advertisement for its Rocket Mortgage technology.

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Financial regulators are pushing banks and credit unions to improve consumer access to low-risk checking accounts.

The Consumer Financial Protection Bureau (CFPB) will announce Wednesday a plan to urge the nation’s 25 largest retail banks for offerings without overdraft fees.

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