Category — Consumer Credit/ Fair Credit Reporting Act

In response to the CFPB’s Notice of Streamlining Project and Request for Information, the ABA provided a set of “first principles” to guide the CFPB’s streamlining efforts. [Read more →]

The CFPB took the first step in identifying larger participant nonbank entities that will be subject to their supervision and examination program on February 16, 2012. [Read more →]

According to a February 7, 2012 American Banker article, credit card protection plans will likely become a regulatory target for the CFPB in coming months. [Read more →]

During the President’s January 24, 2012 State of the Union address, he announced the creation of a new unit within the interagency Financial Fraud Enforcement Task Force (“FFETF”). [Read more →]

As required by Section 1016(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB released its inaugural semi-annual report to Congress on January 30, 2012 detailing the CFPB’s work from its July 21, 2011 launch to December 31, 2011.  [Read more →]

On January 23, 2012, the CFPB and the FTC signed the long-awaited Memorandum of Understanding (“MOU”) outlining the contours of its joint enforcement and rulemaking authority under Dodd-Frank. [Read more →]

On December 9, 2011, the Consumer Financial Protection Bureau (CFPB) began seeking requests for complaints regarding credit cards.  Comments are due by January 30, 2012, regarding the public release of the complaint information by the CFPB.

On November 7, 2011, the Consumer Financial Protection Bureau (CFPB) announced that it will be providing advance notice to financial institutions before pursuing legal action against them. [Read more →]

The CFPB recently announced that its consumer complaint portal, which is currently used to process complaints on credit card products, will soon include mortgage products. [Read more →]

On September 12, 2011 the CFPB entered round four of its “Know Before You Owe” campaign to revamp mortgage disclosure forms.  [Read more →]