Tag Archives: CFPB

The CFPB's push to cut off lenders’ ability to include clauses prohibiting borrowers and bank account holders from filing or joining class action lawsuits in their contracts comes with a price.

When the CFPB implemented the TRID rule, lenders were faced with the new challenge of altering their disclosure and closing processes. Now the question is which lenders, large or small, were able to come out on top following the TRID regulation.

Moody's Investor's Service gave a seal of approval for the Structured Finance Industry Group's TRID compliance proposal, noting that it is adequate to address compliance risks that are likely to cause losses to residential mortgage-backed securitization (RMBS) trusts despite uncertainties.

The CFPB wants to cut off lenders’ ability to include clauses prohibiting borrowers and bank account holders from filing or joining class action lawsuits in their contracts.

Between attempts made by lawmakers to reform the Bureau to the PHH trial, the CFPB is probably glad to see April in the rear view mirror.

A coalition consisting of more than 160 labor unions, civil rights groups, and other advocates has written a letter to CFPB Director Richard Cordray calling for the Bureau to go take its proposed rule to ban arbitration clauses that prevent consumers from bringing class-action lawsuits even further.

Recognizing the “operational challenges” the industry is experiencing with TRID, Cordray said in a letter that the Bureau is considering making some “adjustments” in the regulation text to provide greater certainty and clarity.

Consumers ran into three major problems with the way their loan is being serviced, according to the CFPB's latest monthly consumer complaint snapshot.

In an industry that is so male and white-focused, women and minorities are often passed over for well-deserved positions and promotions, but this idea is being reshaped and redefined right before our eyes.

A fiercely raging debate for the last five years is whether or not the added costs imposed on businesses that must comply with increased regulations justifies the benefits of those increased regulations.