Page 27 - Cfpb News Today

The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.

EEOC, DOJ, CFPB, and FTC raised concerns with growing use of artificial intelligence and automated decision making particularly in employment related decisions. A number of state and local jurisdictions, including Illinois and New York City, have also implemented regulations.

The House Financial Services Committee passed several bills through to the full House that would toughen congressional oversight of the Consumer Financial Protection Bureau.

The Richmond, Virginia-based bank has created a $5 million legal reserve fund with an eye toward resolving a long-running regulatory inquiry by the CFPB

The CFPB released its annual consumer complaints report. Although there was an increase in non mortgage related complaints, the volume of mortgage related complaints decreased compared to previous years. The CFPB identified mortgage appraisals as an area of particular concern.

The CFPB is not following the guidelines that are set up for banks, who (as mentioned above) have to quickly divulge a data leak to customers.

The Consumer Financial Protection Bureau said it is still working to notify consumers about the Feb. 14 breach in which a bank examiner sent personal information on 256,000 consumers and supervisory information on 45 institutions to his email.

On April 3, the CFPB issued a policy statement explaining the legal prohibition on "abusive" conduct in consumer financial markets provided in the Consumer Financial Protection Act...

Worried about your financial-data privacy? The Consumer Financial Protection Bureau is here to help. Unless you’re one of the quarter-million people whose sensitive info an agency employee emailed to a personal email account. 

On March 28, the CFPB issued a preemption determination that that TILA does not preempt commercial lending disclosure regulations enacted in California, New York, Utah, and Virginia...