This past July, the American Bankers Association sent a letter to the CFPB requesting several clarifications to the mortgage servicing rules.
The Consumer Financial Protection Bureau has proposed a no-action letter policy under which the agency would issue letters stating that its staff “has no present intention to recommend initiation of an enforcement or supervisory action” with respect to specified matters involving innovative financial products or services.
The CFPB has issued a final rule amending certain provisions of the 2013 Title XIV final mortgage rules. While in its press release the CFPB describes the amendments as “minor adjustments to its mortgage rules,” the final rule contains several major changes from the CFPB’s proposal.
Animal House Today, Mom’s House Tomorrow: The CFPB Reports On Struggling Private Student Loan Borrowers
It’s no secret that many recent graduates have collected their diplomas only to face the one-two punch of a lean job market and mounting student loan debt.
The Consumer Financial Protection Bureau (CFPB) has finalized a proposed rule that will eliminate the need for certain financial institutions to mail annual privacy notices to their customers, so long as the institutions publish their privacy notices online and engage only in limited sharing of customer information.
Nearly three years after identifying the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirement as a candidate for streamlining, the CFPB issued a final rule earlier this week to allow financial institutions that meet certain requirements to deliver such notices using an alternative online delivery method.
On Monday, the Consumer Financial Protection Bureau (CFPB) finalized a rule that promotes more effective privacy disclosures and saves the financial services industry around $17 million dollars.
CFPB Student Loan Ombudsman Files Third Annual Report Highlighting Bureau’s Hot Button Issues in Student Lending
The CFPB released its third Annual Report of the Student Loan Ombudsman, Rohit Chopra, discussing complaints received by the CFPB about private student loans and the lessons drawn by the Ombudsman from those complaints.
On September 17, 2014, the CFPB issued a supervisory highlights report concerning discriminatory practices in automobile lending.
The CFPB published for comment in today’s Federal Register a proposed policy on issuing “no-action” letters for innovative financial products or services.