CFPB Resource Center

  • May 15, 2015
    CFPB Holds Hearing, Seeks Info on Student Loan Servicing On Thursday, May 14, 2015, the CFPB announced a new public survey on student loan servicing practices and held a field hearing in Milwaukee, to discuss some of its recent market observations. The Bureau highlighted concerns it previously raised regarding student loan servicing, evaluating an array of issues from the way borrowers...
  • May 8, 2015
    TRID Bill On Friday, May 1, 2015, Steve Pearce (R-NM) and Brad Sherman (D-CA) introduced legislation, H.R. 2213 , which will provide a hold-harmless period through the end of the year following the August 1, 2015 effective date of the CFPB's TILA/RESPA Integrated Disclosures (TRID) regulation. CBA and other trade associations sent a letter supporting the legislation and outlining the challenges...
  • May 1, 2015
    CFPB Announces Webinar on TRID Rule On Thursday, April 30, 2015, the CFPB announced it will hold a 60-minute webinar on Tuesday, May 26, 2015 at 2 p.m. EDT to answer frequently asked questions about the TILA/RESPA Integrated Disclosure rule (TRID). The webinar will be hosted by the Federal Reserve. Those interested may register here . CFPB Takes Action on Mortgage Kickbacks On Wednesday, April 29...
  • April 24, 2015
    CFPB, FTC Bring Enforcement Action Against Green Tree Servicing On Wednesday, April 22, 2015, the CFPB and the Federal Trade Commission (FTC) entered into a preliminary consent agreement with Green Tree Servicing. The agencies allege the national mortgage servicer harmed distressed borrowers in violation of the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, and the Fair...
  • April 17, 2015
    CFPB Issues Rule Temporarily Suspending Obligation to Submit Card Agreements On Wednesday, April 15, 2015, the CFPB issued a final rule temporarily suspending the requirement for certain credit card issuers to send their agreements to the CFPB on a quarterly basis. The Bureau had been publishing the agreements in a public database on its website. Other requirements, including card issuers'...
  • April 10, 2015
    Bureau Issues Consent Order for Mortgage Advertisements On Thursday, April 9, 2015, the CFPB entered into a consent order with RMK Financial Corporation, also doing business as Majestic Home Loans, to resolve allegations of deceptive mortgage advertising. As a result of the order, RMK will be prohibited from falsely implying government affiliation in future advertisements and pay $250,000 in...
  • April 3, 2015
    CBA Comments on Prepaid Proposed Rule On Friday, March 20, 2015, CBA and the Financial Services Roundtable submitted a comment letter to the CFPB regarding proposed rulemaking on prepaid products. The groups stressed the importance of avoiding regulation that increases costs and decreases availability because such impacts are likely to be felt most acutely by consumers who are least able to...
  • March 20, 2015
    CFPB Finalizes Policy on Consumer Complaint Narratives On Thursday, March 19, 2015, the CFPB announced it had finalized policy to allow for the inclusion of unverified consumer complaint narratives into its Consumer Complaint Database. With input from its membership, CBA responded to the CFPB requests for public comment on this issue in September of 2014. In its press release, the Bureau...
  • March 13, 2015
    CFPB Holds Field Hearing on Arbitration On Tuesday, March 10, 2015, the CFPB held a public field hearing in Newark, N.J., to discuss the use of arbitration agreements in consumer financial products and services; Dong Hong, CBA's Vice President and Regulatory Counsel, served as a panelist at the hearing. In conjunction with the field hearing, the CFPB issued its report on mandatory pre-dispute...
  • March 6, 2015
    CFPB Director Testifies Before House Financial Services Committee On Tuesday, March 3, 2015, CFPB Director Richard Cordray testified before the House Financial Services Committee (HFSC) and provided the Bureau's Semiannual Report to Congress . In his opening statement, Director Cordray summarized the Bureau's activities for the previous six months including highlighting enforcement actions, some...

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