The Consumer Financial Protection Bureau (CFPB or Bureau) has come under criticism recently for its heavy handed approach to regulation, including “regulation by enforcement.”
On April 28, 2016, the Consumer Financial Protection Bureau (CFPB) issued a letter to industry trade members announcing its plan to issue a Notice of Proposed Rulemaking (NPRM) to provide further clarification of the Truth in Lending Disclosure Rule (TRID).
Today, the CFPB issued a letter to various industry trade groups, including the Mortgage Bankers Association, the American Bankers Association, and the Independent Community Bankers of America, acknowledging that the implementation of the “Know Before You Owe” rule (otherwise known as “TRID”) poses many “operational challenges.”
Industry Trade Groups’ Renewed Challenge to HUD Disparate Impact Rule Could Yield Helpful Precedent for ECOA Cases
The D.C. district court recently granted two industry trade associations whose members sell homeowners insurance leave to file an amended complaint in their lawsuit challenging the Fair Housing Act (FHA) disparate impact rule (Rule) adopted by the U.S. Department of Housing and Urban Development (HUD).
On April 25, 2016, the CFPB announced its latest in a series of recent enforcement actions against debt collection law firms.
On April 25, 2016, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with a debt collection law firm, two of the firm’s principal partners, and New Century Financial Services, Inc., a company that purchases and collects consumer debts.
CFPB April 2016 Complaint Report Highlights Mortgage Complaints, Complaints from California Consumers
The CFPB has issued its April 2016 complaint report which highlights complaints about mortgages and complaints from consumers in California.
CFPB, “Please”: Judge Rebuffs CFPB’s Attempt to Compel Documents Regarding for-Profit College Accreditation
Last Thursday, a federal district court judge in D.C. denied the Consumer Financial Protection Bureau’s (CFPB) attempt to compel documents from the Accrediting Council for Independent Colleges and Schools (ACICS).
Federal District Court Rules for the First Time That the CFPB Exceeded Its Jurisdiction in Issuing Investigative Demand
On April 21, 2016, a federal district court for the first time issued an order quashing a civil investigative demand issued by the Consumer Financial Protection Bureau (the CFPB).
The FCC’s Consumer Broadband Labels: An Avenue for Meeting the FCC’s Open Internet Transparency Requirements?
On April 4, 2016, the Federal Communications Commission (FCC), in collaboration with the Consumer Financial Protraction Bureau, unveiled standardized consumer broadband labels that will list information about the price and performance of fixed and mobile broadband service.