CFPB, Federal Agencies, State Agencies, and Attorneys General
In this blog post, we attempt to dissect and explore the Bureau’s proposed call frequency and time/place limitations in the recently-released debt collection NPRM.
Proposed Call Frequency Limitations
First, let’s tackle the proposed call frequency limitations. Section 1006.14(b)(2) prohibits attempting to call (note the use of the word “call,” as opposed to “communicate with”)…
The CFPB recently released a redesigned version of its Home Mortgage Disclosure Act (HMDA) data and research page. The webpage provides access to various types of HMDA information and data, including HMDA data of individual institutions, and HMDA data aggregated on a national basis and a metropolitan area basis.
The CFPB advises that in…
The CFPB recently issued a factsheet addressing whether a Loan Estimate and Closing Disclosure are required in connection with the assumption of a residential mortgage loan.
As previously reported, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act) includes a sense of Congress provision that the CFPB should endeavor to provide clearer,…
The CFPB recently posted on its website revised Home Mortgage Disclosure Act (HMDA) examination guidelines.
The revised guidelines address the exemption adopted in the Economic Growth, Regulatory Relief, and Consumer Protection Act (also known as S.2155) applicable to the new HMDA data categories added by Dodd-Frank and the HMDA rule adopted by the CFPB…
The CFPB recently released modified Home Mortgage Disclosure Act (HMDA) loan application registers of approximately 5,400 financial institutions for calendar year 2018.
Calendar year 2018 is the first year that the mortgage industry collected HMDA data under the modified, and significantly expanded, data reporting requirements under the revised HMDA rule adopted in October 2015 by…
The CFPB has announced a number of changes to its advisory committee charters, publishing notices in the Federal Register on March 22 pertaining to each advisory committee: the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).
The Bureau describes these changes as “enhancements” resulting…
The CFPB announced the release of the 2019 version of A Guide to HMDA Reporting: Getting it Right. The Guide addresses the collection of data under the Home Mortgage Disclosure Act (HMDA) during 2019 that must be reported in 2020.
The Guide incorporates the amendments to HMDA made by the Economic Growth, Regulatory Relief,…
House Financial Services Committee Chairwoman Maxine Waters has introduced the “Consumers First Act” (to be designated H.R. 1500), a modified version of a bill she introduced in the last session of Congress when Mr. Mulvaney was still serving as CFPB Acting Director.
The bill calls on the CFPB to “promptly reverse all anti-consumer…
House Financial Services Committee Chairwoman Maxine Waters has announced a series of hearings for next month, including one entitled “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau” scheduled for March 7, 2019.
The CFPB released its Fall 2018 Semi-Annual Report earlier this month. Since no further information about the hearing is…
H.J. Res. 31, the appropriations bill signed into law by President Trump on February 15 that ended the partial government shutdown and provides funding for fiscal year 2019 through September 30, 2019, includes a provision dealing with CFPB funding requests.
Pursuant to Section 1017(a)(1) of the Dodd-Frank Act, subject to the Act’s funding cap,…
