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Archives for CFPB

Legislative and Bank Regulatory Actions to Assist Forbearance in a Pandemic World

Posted by  on Monday, March 30th 2020     

By Kristina Whittaker and Ed O’Keefe.  For the last three weeks or so, the federal and state banking agencies, collectively and individually, have, with increasing urgency, called on financial institutions to meet the financial needs of customers impacted by the COVID-19. Congress…

category: Blog, CARES Act, CECLs, CFPB, Coronavirus, COVID-19, Current Expected Credit Losses, FDIC, Federal Reserve, Financial Institutions, Forbearance, Legislative Updates, TDRs, Troubled Debt Restructurings

A Small Step Toward Clarity? The CFPB Issues Policy Statement on “Abusiveness” Standard

Posted by  on Tuesday, February 11th 2020     

On January 24, 2020 the CFPB issued a long-awaited policy statement about the meaning of “abusiveness” in the Bureau’s frequently-used enforcement weapon, 1031(d) of the Dodd-Frank Act, commonly referred to as UDAAP.  Unlike the standards for unfairness and deceptiveness (the…

category: Blog, CFPB, ConsumerFinance, UDAAP

CFPB’s ANPR Calls for the End of the GSE Patch

Posted by  on Wednesday, August 14th 2019     

By Nicole Schiavo. Late last month the CFPB reignited debate when it issued an Advance Notice of Proposed Rulemaking (“ANPR”) stating its intention to allow the “GSE Patch” to expire in January 2021.  The GSE Patch allows what would otherwise…

category: #DTI, #GSEPatch, #MortgageOriginations, #MVABlog, #QM, CFPB, News

Mick Mulvaney’s Consumer Financial Protection Bureau

Posted by  on Friday, June 15th 2018     

By Kristina Whittaker[1]. Mick Mulvaney was appointed Acting Director of the Consumer Financial Protection Bureau (Bureau) on November 25, 2017.  His term will end on June 22, 2018, unless the President nominates a Director prior to that date, in which case Mr. Mulvaney will remain as Acting Director until a new Director is confirmed.  During … Continue reading →

category: CFPB, Chatterjee, Dodd-Frank, OCC, Regulatory Compliance, Title X

Mick Mulvaney’s Consumer Financial Protection Bureau

Posted by  on Friday, June 15th 2018     

By Kristina Whittaker[1]. Mick Mulvaney was appointed Acting Director of the Consumer Financial Protection Bureau (Bureau) on November 25, 2017.  His term will end on June 22, 2018, unless the President nominates a Director prior to that date, in which case Mr. Mulvaney will remain as Acting Director until a new Director is confirmed.  During … Continue reading →

category: CFPB, Dodd-Frank, Mick Mulvaney, OCC, Regulatory Compliance, Title X

Cybersecurity Enforcement and Regulation—2017 In Review

Posted by  on Wednesday, March 28th 2018     

By Neil Bloomfield and Lindsey Frye.  The legal and regulatory landscape continues to evolve in an effort to meet the pervasive and destructive effects of cyber attacks.  2017 brought a substantial increase in the number of attacks and the severity of the breaches.  Hacking victims disclosed former breaches to be more serious than originally reported, … Continue reading →

category: CFPB, Cyber Attack, Cybersecurity, DHS, FTC, NDAA, SEC