The Consumer Financial Protection Bureau (CFPB) this week announced a new partnership with a group of state-level regulating authorities to launch the American Consumer Financial Innovation Network (ACFIN), a network that is designed to “enhance coordination among federal and state regulators to facilitate financial innovation,” according to an announcement released by the CFPB. While sending […]
A case levied against Ocwen Financial Corporation (NYSE: OCN) by the Consumer Financial Protection Bureau (CFPB) in 2017 has been dismissed by a federal judge in Florida, though the Bureau has the option to refile the case if it so chooses, according to a story in National Mortgage News. Originally filed by the Bureau in […]
As parts of the Bahamas and Southeastern U.S. are bearing the brunt of Hurricane Dorian, the Consumer Financial Protection Bureau (CFPB) has released a new guide for borrowers of Home Equity Conversion Mortgages (HECMs) who have been affected by natural disasters. “Today we released a guide for older homeowners on how to meet their reverse […]
The Consumer Financial Protection Bureau (CFPB) announced on Wednesday that it is now accepting comments concerning a proposed rule change to aspects of the Home Mortgage Disclosure Act (HMDA), changes which would affect coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit. “Specifically, the Bureau requests comments on […]
The Consumer Financial Protection Bureau (CFPB) has issued an update to a 2016 advisory to financial institutions, which included a series of best practices designed to assist those institutions in protecting seniors who hold certain accounts with them. In this update of the previous advisory, the CFPB encourages banks and credit unions to report to […]
The Consumer Financial Protection Bureau (CFPB) announced this week that it has released a new version of its consumer guide to reverse mortgages, translated for Spanish-speaking consumers. “The guide, also available in English, provides an overview of many key concepts of reverse mortgage loans,” said Cora Hume from the CFPB Office of Older Americans in […]
The Consumer Financial Protection Bureau (CFPB) announced the appointment of Brian Johnson as its deputy director, according to a press release circulated by the agency. Johnson first joined the agency in December 2017 as senior advisor to the director. He went on to be named principal policy director in April 2018, before being named acting […]
The United States House of Representatives is contemplating the passage of a bill designed to roll back limitations placed on the Consumer Financial Protection Bureau (CFPB) during the tenure of acting director Mick Mulvaney, according to a report in The Hill.Mulvaney, who was replaced upon the confirmation of the Bureau’s current director Kathleen L. Kraninger […]
The Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (NPRM) on Thursday, which proposes a raise to the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the rules of the Home Mortgage Disclosure Act (HMDA). “The NPRM would provide relief to smaller lenders […]
The Consumer Financial Protection Bureau announced changes to its policies regarding Civil Investigative Demands (CIDs) on Tuesday in order to, “ensure they provide more information about the potentially wrongful conduct under investigation,” according to an announcement press release. A Civil Investigative Demand is a mechanism used by both state and federal investigators to collect information […]
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