Agencies announce dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions
Agencies announce dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions
Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans
Agencies announce threshold for smaller loan exemption from appraisal requirements for higher-priced mortgage loans
Statement by Kathy Kraninger at CFPB/FTC Equifax Settlement Press Conference
Statement by Kathy Kraninger at CFPB/FTC Equifax Settlement Press Conference. Thank you for joining us. Today’s global settlement is the result of a strong partnership between the Bureau, the Federal Trade Commission, and the states.
CFPB, FTC and States Announce Settlement with Equifax Over 2017 Data Breach
The Consumer Financial Protection Bureau (Bureau), the Federal Trade Commission (FTC), and 48 states, the District of Columbia and Puerto Rico announced a global settlement today with Equifax that would provide up to $700 million in monetary relief and penalties. In a complaint and proposed stipulated judgment filed in federal district court in the Northern District of Georgia, the Bureau alleges that Equifax engaged in unfair and deceptive practices in connection with the 2017 data breach of Equifax’s systems that impacted approximately 147 million consumers.
CFPB To Hold First Symposium On June 25
The Consumer Financial Protection Bureau announced today that its first symposium will be held on June 25 at 9 a.m. The symposium, part of a series announced earlier this year, will focus on the Dodd-Frank Act’s prohibition on abusive acts or practices. The symposium will be webcast on the Bureau’s website.
CFPB Highlights of Director Kraninger’s First Six Months
CFPB Highlights June 11th marks the first six months of Director Kathleen L. Kraninger leading the Consumer Financial Protection Bureau. Launched an initiative, Start Small, Save Up, to increase emergency savings among consumers;
Expanded the Misadventures in Money Management financial education tool for active-duty servicemembers;
Educated consumers about mortgage closing scams;
CFPB Proposes Regulations to Implement the FDCPA
Today the Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA). The proposal would provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts. Among other things, the NPRM would set clear, bright-line limits on the number of calls debt collectors may place to reach consumers on a weekly basis; clarify how collectors may communicate lawfully using newer technologies, such as voicemails, emails and text messages, that have developed since the FDCPA’s passage in 1977; and require collectors to provide additional information to consumers to help them identify debts and respond to collection attempts.
House Fin Democrats Target Trump Agenda
House of Democrats appear like they are using the House Financial Services Committee to fight proxy wars with President Donald Trump. That may not be such a bad thing for traders.
Consumer Financial Protection Bureau Issues Advance Notice of Proposed Rulemaking on Property Assessed Clean Energy Financing
Today the Consumer Financial Protection Bureau (CFPB) issued an Advance Notice of Proposed Rulemaking (ANPR) on residential Property Assessed Clean Energy financing. The Economic Growth, Regulatory Relief, and Consumer Protection Act, signed into law in May 2018, directed the Bureau to prescribe certain regulations for PACE financing.
GAO Wants CFPB Involved in Fintech Banking Alternatives
The report also addresses fintech lenders’ use of alternative data to supplement traditional data used in making credit decisions or to detect fraud.
