Tag Archives: CFPB

Wells Fargo Chairman and CEO John Stumpf sat before the Senate Banking Committee on Tuesday and profusely apologized for the controversy that has rocked all sectors of the financial industry in the last two weeks.

Complaints made by consumers to the Consumer Financial Protection Bureau (CFPB) are difficult to track and address. What are the potential effects of these complaints on mortgage lenders and servicers?

ICBA President and CEO Camden Fine is urging a bipartisan group of 70 senators not to give up in their quest for more regulatory relief for community banks and lenders.

As the Consumer Financial Protection Bureau (CFPB) approaches one million complaints handled in its five-year history, mortgages are no longer the most complained-about financial product.

CFPB Director Richard Cordray responded to a letter from a group bipartisan group of 70 U.S. Senators asking the Bureau to exempt the community banks and credit unions from certain regulations.

Earlier in August, 65 House Democrats wrote a letter to the CFPB urging them to pass their proposal to ban the use of arbitration clauses in business contracts. Now several state attorneys general are behind the proposal.

The CFPB published its proposed updates to TRID on Monday, opening the 64-day comment period on the controversial mortgage disclosure rule.

The Consumer Financial Protection Bureau will provide an in-depth look at the updates to its mortgage servicing rules on September 12 as part of this year's Five Star Conference and Expo.

Sixty-five House Democrats expressed strong support for the CFPB's proposed rule to prohibit the use of forced arbitration in consumer contracts in the form of a letter to CFPB Director Richard Cordray on Wednesday,

The CFPB made good on the promise it made in the spring regarding a proposal to update the Know Before You Owe Mortgage Rule.