In its Semiannual Report to Congress for the six month period ending March 31, 2013, the Federal Reserve Board’s Office of the Inspector General (OIG) indicates that, during the next semiannual reporting period (which ends...more
5/24/2013
Despite expectations fueled by statements from Senate Majority Leader Harry Reid’s office that he planned to hold a procedural vote on Richard Cordray’s nomination this week, it now appears the Senate will not vote on the...more
5/22/2013
The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit has scheduled a hearing for tomorrow, May 21, on “Qualified Mortgages: Examining the Impact of the Ability to Repay Rule.”...more
5/20/2013
- Ability-to-Repay CFPB Qualified Mortgage Rule
According to a report from Politico, CFPB employees voted last week to join the National Treasury Employees Union, a federal union that also represents employees at other financial regulators, including the FDIC, OCC and SEC....more
5/20/2013
- CFPB Dodd-Frank Unions
The CFPB has announced the launch of its Spanish language website. According to the CFPB, in response to research showing that two-thirds of Latinos who are online tend to access the Internet from a mobile device, the website...more
5/17/2013
- CFPB Websites
The dark cloud that has been hanging over CFPB Director Richard Cordray’s recess appointment just got darker. In a 2-1 decision in NLRB v. New Vista Nursing and Rehabilitation, the U.S. Court of Appeals for the Third Circuit...more
5/17/2013
- Canning v NLRB CFPB NLRB Recess Appointments Richard Cordray
Bloomberg has reported that, according to a spokesman for Senate Majority Leader Harry Reid, the Senate will vote next week on whether to advance President Obama’s renomination of Richard Cordray to serve as CFPB Director....more
5/16/2013
- CFPB Nominations Richard Cordray
A letter sent today to the CFPB by an attorney for the Community Financial Services Association of America (CFSA), a national trade organization for payday lenders, asserts that the CFPB violated the Federal Advisory...more
5/16/2013
The decision of the U.S. Court of Appeals for the Second Circuit in Berlin v. Renaissance Rental Partners, LLC issued on May 6 represents a win for the CFPB’s amicus program. At the court’s invitation, the CFPB filed a letter...more
5/8/2013
- CFPB Condominiums ILSA
In remarks given earlier this week at the Investing in Our Future Conference in Washington, D.C., Director Cordray spoke about the need to make financial education a part of the school curriculum for the nation’s children and...more
5/3/2013
- CFPB Financial Education Initiatives Richard Cordray
The CFPB’s Office of Servicemember Affairs has issued a report on complaints submitted by servicemembers, veterans or their spouses and dependents (“servicemember complaints”) over the period from January 1, 2012 through...more
5/3/2013
- CFPB Mortgages Private Student Loans
The CFPB has amended Regulation Z to remove the requirement that a card issuer must consider the independent ability to pay of an applicant who is 21 or older. The final rule, which will be effective upon publication in the...more
5/2/2013
- CFPB Compliance Credit Cards Final Rules Regulation Z
Earlier this week, the CFPB announced that it has created a new office intended to “enhance collaboration and communication” between the CFPB and bank and nonbank trade associations, financial institutions, and businesses....more
4/26/2013
- CFPB Compliance New Office
On April 16, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing on “Examining Community Bank Regulatory Burdens.” Among the witnesses scheduled to appear is...more
4/16/2013
- Community Banks
An audit of the CFPB’s Consumer Response System (CRS) by the Federal Reserve’s Office of Inspector General (OIG) found that improvements are needed to ensure that the requirements of the Federal Information Security...more
4/11/2013
- CFPB Consumer Complaint System Data Protection FISMA OIG
