The CFPB has unveiled its latest “Know Before You Owe” initiative aimed at consumers shopping for an auto loan. The new initiative was accompanied by the CFPB’s release of a report entitled “Consumer Voices on Automobile Financing” that is intended to share the CFPB’s research about how consumers approach decisions about auto financing.
Know Before You Owe
Student loans get the “Know Before You Owe” treatment
By John L. Culhane, Jr. on
Posted in CFPB General, Regulatory and Enforcement
Recycling the “Know Before You Owe” theme of its mortgage loan disclosure project, the CFPB has launched a new student loan project on its web site which it describes as the product of a partnership between the CFPB and the U.S. Department of Education.
The CFPB is looking for feedback on what is actually a…
Closing disclosures coming in “Know Before You Owe”
By Barbara S. Mishkin on
In an earlier post about the CFPB’s “Know Before You Owe” project, I commented that it was unclear how the CFPB intended to approach required RESPA/TILA disclosures other than the early TILA disclosure and the RESPA good faith estimate. The project was launched in May to design a simplified mortgage loan disclosure combining the disclosures…
Simplified mortgage disclosures to come with new rules
By Barbara S. Mishkin on
The CFPB is close to wrapping up its “Know Before You Owe” project to design a simplified mortgage loan disclosure combining the disclosures required by TILA and RESPA. In addition to completing its proposed design, the CFPB will be writing rules to accompany the new disclosure forms. That message was delivered by Pat McCoy, the…
Lessons we can draw from Raj Date’s September 15 “Lessons Learned” speech
By Ballard CFS Group on
On September 15, 2011, Raj Date delivered a speech in Philadelphia entitled “Lessons Learned From the Financial Crisis: the Need for the CFPB.” Although the speech was, in some part, an effort to validate the need for the CFPB in the first place, Mr. Date’s remarks present interesting clues about the CFPB’s early…