The CFPB Establishes Framework to Better Coordinate with State Regulators
The framework will apply in situations where the CFPB and state regulators share concurrent supervisory jurisdiction.
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CFPB Statement on Deposit Advance Product Announcements by Banking Regulators
These statements addressed risks associated with these short-term, small-dollar loans. The Bureau also sees significant consumer risks and looks forward to...
CFPB Proposes Rule to Oversee Nonbank Student Loan Servicers
Today's proposed rule would expand that supervision to certain nonbanks. The rule would define certain nonbank student loan servicers as "larger...
Consumer Financial Protection Bureau Warns Mortgage Servicers About Legal Protections for Consumers When Transferring Loans
When handing over the processing of loans, mortgage servicers should not lose paperwork, lose track of a homeowner's loss mitigation plans, or hinder a...
Consumer Financial Protection Bureau issues warning to nationwide specialty consumer reporting agencies
"Today, the CFPB is reminding these companies that they must follow the law and provide consumers with easy access to their free annual report. If we have...
Consumer Financial Protection Bureau Warns Companies Against Misleading Consumers with False Mortgage Advertisements
Today's actions stem from a joint "sweep," a review conducted by the CFPB and the FTC of about 800 randomly selected mortgage-related ads across the...
Federal Housing Finance Agency and Consumer Financial Protection Bureau to Partner on Development of National Mortgage Database
The database will primarily be used to support the agencies' policymaking and research efforts and to help regulators better understand emerging mortgage...
CFPB Report Highlights Problems in Market Discovered Through Supervisory Actions
"This report underscores our work to address practices that are risky to consumers, as well as our continued commitment to making sure that institutions are...
Consumer Financial Protection Bureau and prudential regulators issue joint guidance to address mortgage servicer practices that impact servicemembers
The guidance, which is intended to ensure compliance with applicable consumer laws and regulations, pertains to military homeowners who have received...
Agencies Sign Memorandum of Understanding on Supervisory Coordination
Such coordination includes scheduling examinations, conducting simultaneous examinations of covered depository institutions unless an institution requests...
CFPB Proposes Procedural Rule on Supervising Nonbanks that Pose Risks to Consumers
"This is an important step in the development of our nonbank supervision program," said CFPB Director Richard Cordray. "This proposal allows us to reach...
CFPB to Pursue Discriminatory Lenders
Today, the Bureau announced that it will use all available legal avenues, including disparate impact, to pursue lenders whose practices discriminate against...
Consumer Financial Protection Bureau proposes rule for the protection of privileged information
The proposed rule is intended to provide supervised entities further assurances that providing privileged information to the Bureau will not adversely...
CFPB Launches Inquiry into Overdraft Practices
As part of that inquiry, the CFPB is seeking public input on a prototype "penalty fee box" – a disclosure on a consumer's checking account statement that...
Consumer Financial Protection Bureau, Federal Trade Commission pledge to work together to protect consumers
"Entering this agreement with the FTC is important to making sure markets for consumer financial products are getting efficient and effective federal...
CFPB Examines Payday Lending
The hearing coincides with the publication of the Bureau's Short-Term, Small-Dollar Lending Procedures – a field guide CFPB examiners will use to make sure...
CFPB Releases Mortgage Origination Examination Procedures
These procedures are a field guide for CFPB examiners looking at mortgage originators in both the bank and nonbank sectors of the industry.
CFPB Launches Nonbank Supervision Program
This will be an extension of the CFPB’s bank supervision program that began last July and will ensure that banks and nonbanks follow federal consumer financial laws.
CFPB Begins Taking Whistleblower Tips
The CFPB is welcoming information about potential violators from current or former employees, contractors, vendors, and competitor companies. The Dodd-Frank...
Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities For Federal Consumer Financial Laws
Under section 1025 of Dodd-Frank, the Bureau has exclusive authority to examine for compliance with federal consumer financial laws and primary authority to...
CFPB Plans to Provide Early Warning of Possible Enforcement Actions
The Early Warning Notice process allows the subject of an investigation to respond to any potential legal violations that CFPB enforcement staffbelieve have...
Consumer Financial Protection Bureau Outlines Mortgage Servicing Examination Strategy
The Mortgage Servicing Examination Procedures released today by the CFPB describe the types of information that the agency's examiners will gather to...
Testimony of Elizabeth Warren Before the Committee on Oversight and Government Reform
At each of those appearances, we provided detailed written testimony on our efforts to establish the CFPB. Today, I welcome this opportunity to testify...
Consumer Financial Protection Bureau Outlines Bank Supervision Approach
The consumer agency will conduct examinations to help ensure that consumer financial practices at large banks conform with consumer financial protection...