The Court of Appeals rehearing of the Consumer Financial Protection Bureau (CFPB) took place Wednesday to determine the constitutionality of CFPB’s leadership structure. Previously brought by PHH Corporation in October, the initial decision by the court determined the CFPB was, in fact, unconstitutional. Wednesday’s hearing was an “en banc” review, previously agreed upon in February.
Read More »MERSCORP To Offer LEI Registrations Later This Year
MERSCORP Holdings, Inc., announced this week it will support the Consumer Financial Protection Bureau’s updated Home Mortgage Disclosure Act requirements by facilitating legal entity identifier (LEI) registrations and renewals for users of MERS System and other industry participants.
Read More »CFPB Penalizes Three Reverse Mortgage Lenders
The Consumer Financial Protection Bureau alleged that the three companies engaged in deceptive advertising practices described in the Bureau's study on reverse mortgage advertising released last year.
Read More »CFPB Surpasses 1 Million Complaints Handled
The Bureau handled its 1 millionth complaint in September after opening its doors slightly more than five years ago. Where do mortgage products rank on the CFPB's complaint list?
Read More »Exactly Five Years Into the CFPB Era. . .
The Consumer Financial Protection Bureau celebrated its fifth birthday on Thursday, July 21. Five years in, those in the mortgage industry continue the fierce debate on whether the Bureau is helping or harming the industry.
Read More »Should Regulations Get Tougher for Wall Street?
In the midst of a heated debate in Congress where Republicans are trying to replace Dodd-Frank with a proposal of their own, a poll showed bi-partisan support for greater financial accountability and tougher regulation.
Read More »Proposed Rule Would Close Privacy Disclosure Loophole
The exemption that allows some financial institutions to skip sending annual privacy notices to consumers could soon be history, if the Consumer Financial Protection Bureau gets its way.
Read More »CFPB Investigation Uncovers Servicing Violations
The Bureau reported violations due to deficient technology and process breakdowns as a result of numerous examinations of mortgage servicers since the CFPB’s new servicing rules went into effect in January 2014.
Read More »Watchdog Finds Trouble with CFPB’s Culture
The GAO reported on Tuesday that a survey of the CFPB's nonexecutive employees revealed concerns over fair treatment in the workplace.
Read More »Behind the CFPB’s Doubled Ad Budget
The Consumer Financial Protection Bureau has nearly doubled the amount spent on online advertising just since last year. What are its motives? What questions does this raise?
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