Each month, we host a 30-minute
webinar outlining the month s key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month s article, we share some of our top bites covered during the January 26 webinar.
So what happened at the CFPB in the past month? A whole lot.
Bite #10 - Settled with a mortgage servicer.
The CFPB settled with a mortgage servicer over alleged violations of the Consumer Financial Protection Act and Regulation Z in relation to processing loss mitigation applications. The CFPB claimed that the mortgage servicer violated the CFPA by:
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On January 20, the White House announced the acting agency leadership in the next phase of the transition of government. As part of that transition, President Joe Biden
appointed Dave Uejio to serve as the acting director of the Consumer Financial Protection Bureau (CFPB). This news followed on the same day Director Kraninger, appointed by former President Donald Trump,
resigned to adhere to the wishes of the new administration.
Earlier this month, then President-elect Joe Biden
nominated Rohit Chopra, currently a Federal Trade Commission commissioner, to serve as the third director of the CFPB. The Federal Vacancies Reform Act does not allow Chopra to serve as acting director because he has been officially nominated.
On January 5, 2021, the Consumer Financial Protection Bureau (CFPB) Taskforce on Federal Consumer Financial Law (Taskforce) issued a final report (Report) with recommendations on how to.
This update provides a broad overview of Volumes I and II of the Taskforce Report. We anticipate publishing more detailed analyses of the Report’s specific recommendations for legislative and regulatory reform, as well as drafting blog-posts and hosting webinars and podcasts devoted to emerging areas of federal consumer financial law, throughout 2021.
Taskforce Report Volume I provides summaries, analysis and helpful practice aids.
In Volume I of the Report, the Taskforce has authored a long treatise explaining nearly everything about consumer financial products, services and federal government regulation of them. It traces the history of federal consumer financial law since 1968, and explains how financial products and services work, as well as incentives for them. It highlights strengths and weaknesses of the current statutes and state and federal regulatory regimes. In large measure it provides all the data, research, background information, analysis, and justification
Biden to nominate new CFPB director cuinsight.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cuinsight.com Daily Mail and Mail on Sunday newspapers.