compliance costs

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In a recent post on its blog, the CFPB announced that its Research, Markets, and Regulations team is now studying the costs of complying with the consumer finance regulations the CFPB  inherited from other agencies.  The CFPB said that its first step will be to talk to banks across the country about their compliance costs related to deposit products and services. … Continue Reading

In June, the CFPB published a notice in the Federal Register regarding its plans “to collect qualitative information from industry participants regarding the compliance costs and other effects on providers and consumers, both as to existing regulations in force as well as to proposed new regulations.”  The notice sought comments to be included in the CFPB’s request to the Office of Management and Budget for “generic clearance” of the CFPB’s information collection plans. … Continue Reading

The CFPB has published another notice in the Federal Register regarding its plans for collecting information on compliance costs.  Last month, we reported on the notice published by the CFPB about its collection of information on the compliance costs associated with the mortgage servicing proposals under development.  Now, the CFPB seeks comments on its overall plans “to collect qualitative information from industry participants regarding the compliance costs and other effects on providers and consumers, both as to existing regulations in force as well as to proposed new regulations.” … Continue Reading

Two recent notices published by the CFPB in the Federal Register shed some light on the CFPB’s plans for testing the mortgage servicing disclosures it’s developing and for collecting information about the potential compliance costs of its proposals.

A notice published on May 11 seeks comments on the CFPB’s plans to qualitatively test mortgage servicing related model forms and disclosures.… Continue Reading