On June 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had approved a new rule about the use of algorithms and artificial intelligence (AI) for home appraisals and valuations....more
Welcome to this week's issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more
As shown by a new report, the Consumer Financial Protection Bureau (CFPB or Bureau) is focusing its fair lending work on mortgage origination and pricing, small business lending, redlining, and the use of artificial...more
The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. While most of the report recycles information about which we have previously blogged, it does contain the...more
In its Summer 2016 Supervisory Highlights, which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt...more
In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more
CFPB has explained to industry participants what to expect in examinationss, both in terms of exam process and covered laws & regs. SUPERVISION AND EXAMINATION MANUAL – VERSION 2.0 First issued in 10/2011, revised &...more
In its Supervisory Highlights recently released, which cover the period from January to April 2015, the Consumer Financial Protection Bureau (“The Bureau”) reported its examination observations in consumer reporting, debt...more
Over the past couple of weeks, the CFPB has kept itself busy in the mortgage origination enforcement arena. In one complaint, the CFPB ordered a residential mortgage lender and its CEO to each pay a $1 million civil penalty...more
Spring has sprung, technically speaking, but Old Man Winter is dragging his feet on the way out here on the East Coast. Maybe he was hanging around waiting for the Winter 2015 edition of Supervisory Highlights, which came out...more
The Consumer Financial Protection Bureau (“CFPB”) recently announced that it has launched a Regulatory Implementation page that consolidates all of the new 2013 mortgage rules and related implementation materials....more
In January, the CFPB issued several new mortgage rules under the Dodd-Frank Act. ...more
This week, the CFPB published an update to its examination procedures to account for the new mortgage regulations going into effect in January 2014. The update includes Interim TILA Examination Procedures and Interim ECOA...more
On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (the "CFPB") issued a final rule that amends Regulation Z to implement certain amendments to the Truth in Lending Act ("TILA") made by Sections 1461 and...more