On December 19, President Biden vetoed the joint resolution (S. J. Res. 32) the US Senate and House of Representatives passed under the Congressional Review Act that would have repealed the CFPB’s small business data...more
The CFPB has published guidance about compliance with Regulation B, which implements the Equal Credit Opportunity Act (ECOA), when lenders deliver denial notices based on underwriting decisions using artificial intelligence...more
Division of Banks Warns of Risks from Representments Causing Multiple NSF Fees - The Massachusetts Division of Banks has issued a supervisory alert letter to warn banks about certain legal risks and risks of regulatory...more
In its new annual report covering its fair lending activities during 2016, the CFPB identifies the following three areas on which it “will increase our focus” in 2017...more