News & Analysis as of

Consumer Financial Protection Bureau Disclosure Requirements

The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating... more +
The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating consumers about financial products and services, enforcing federal consumer financial laws and studying trends in consumer financial markets.     less -

CFPB to seek OMB approval for testing of overdraft disclosures

by Ballard Spahr LLP on

The CFPB has published a notice in the Federal Register announcing that it plans to seek OMB approval to conduct online testing of ATM/overdraft disclosures with 8,000 individuals. Comments are due on or before January 16,...more

CFPB submits request to conduct online debt collection survey to OMB

by Ballard Spahr LLP on

The CFPB has published a notice in the Federal Register that it has submitted to OMB its request to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Comments must be...more

CFPB Launches Beta Version of HMDA Platform

by Ballard Spahr LLP on

On Friday November 3, 2017 the Consumer Financial Protection Bureau (CFPB) announced the launch of the Internet-based platform that financial institutions will use to submit data under the Home Mortgage Disclosure Act (HMDA)....more

A Deeper Dive: The CFPB Short-Term Small- Dollar Lending Rule

Introduction - By now you’ve likely heard that the Consumer Financial Protection Bureau (CFPB) has released a final small-dollar lending rule. The hallmark of the rule is the requirement That lenders make a reasonable...more

Orrick's Financial Industry Week In Review

SEC Proposes Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure - On October 11, 2017, the Securities and Exchange Commission (SEC) proposed amendments "to modernize and simplify disclosure...more

CFPB updates TRID Rule small entity compliance guide

by Ballard Spahr LLP on

The CFPB recently released a revised version of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October...more

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

by Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

CFPB updates HMDA rule guidance materials

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1,...more

Financial Services Weekly News - September 2017 #3

by Goodwin on

Editor's Note - Cybersecurity Returns to Center Stage. The Equifax breach and recent news that the Securities and Exchange Commission’s (SEC) EDGAR test filing system was hacked in 2016 have brought cybersecurity back to...more

CFPB proposes off-balanced approach to public disclosure of HMDA data

by Ballard Spahr LLP on

In October 2015, the CFPB adopted significant changes to the rules under the Home Mortgage Disclosure Act (HMDA). Among the changes, the items of information to be collected and reported under HMDA are greatly expanded, with...more

Regulators Tackle Board Effectiveness and Overdrafts

by Bryan Cave on

Host Jonathan Hightower is joined by Ken Achenbach to discuss this week's proposed guidance from the Federal Reserve on the effectiveness of bank boards. In addition, at the outset of the episode Jonathan and Ken reviewed...more

CFPB releases summary of TRID Rule amendments

by Ballard Spahr LLP on

In July, the CFPB finalized amendments to the TILA/RESPA Integrated Disclosure (TRID) rule.   Published in the Federal Register earlier this month, the amendments will become effective on October 10, 2017, with a mandatory...more

Nutter Bank Report, August 2017

Federal Reserve Issues Proposed Guidance on Board Duties and Responsibilities - The Federal Reserve has issued proposed supervisory guidance on the duties of boards of directors of institutions supervised by the Federal...more

ABA responds to CFPB prototype overdraft opt-in forms and overdraft report

by Ballard Spahr LLP on

Earlier this month, the CFPB issued another report on checking account overdraft services, “Data Point: Frequent Overdrafts,” and four one-page prototype model forms to replace the current Regulation E model form for banks to...more

CFPB Releases Prototypes of “Know Before You Owe” Overdraft Disclosure Forms

by Goodwin on

On August 4, 2017, the Consumer Financial Protection Bureau (CFPB) published four prototypes of model overdraft disclosure forms the Bureau is testing as part of its broader “Know Before You Owe” efforts. The prototypes are...more

CFPB Provides First Look at the HMDA Portal

by Ballard Spahr LLP on

On August 3, 2017, the Consumer Financial Protection Bureau (CFPB) provided the mortgage industry with a first look at the portal to be used for the reporting of, and public access to, data under the Home Mortgage Disclosure...more

CFPB issues guidance on pay-by-phone fees

by Ballard Spahr LLP on

The CFPB has issued a new compliance bulletin (2017-11) to provide guidance on pay-by-phone fees.  The guidance includes examples of conduct relating to pay-by-phone practices identified by the CFPB in its supervision and...more

CFPB Loses Borders Case: the Court Construes RESPA’s Statutory ABA Exemption according to its Plain Language

by Foley & Lardner LLP on

On July 12, 2017, a federal district court in Kentucky issued a summary judgment ruling for the defense in the ongoing Borders & Borders case brought by the Consumer Financial Protection Bureau (CFPB or Bureau). In this...more

CFPB Adopts TRID Rule Amendments and Proposes to Address Black Hole Issue

by Ballard Spahr LLP on

As we reported previously, the Consumer Financial Protection Bureau (CFPB) recently issued long-awaited amendments to the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID)...more

CFPB provides additional HMDA reporting guidance

by Ballard Spahr LLP on

The CFPB issued HMDA Loan Scenarios on July 19, 2017 to provide additional guidance to the industry on reporting transactions under the revised HMDA rule, which has a January 1, 2018 effective date for most provisions....more

CFPB Finalizes TRID Rule Clarifications

by Alston & Bird on

Our Financial Services & Products Group gets to know the Consumer Financial Protection Bureau’s long-awaited final TILA and RESPA Integrated Disclosure (TRID) Rule. - The black hole - Highlighted variations - Possible...more

CFPB Proposes Changes to Home Mortgage Disclosure Act (HMDA) Reporting Threshold for Community Banks and Credit Unions

On July 14, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule on HMDA reporting requirements for banks and credit unions that issue home-equity lines of credit (HELOCs). Under rules scheduled to...more

The CFPB Finalizes Some, But Not All, Amendments to TRID

by Balch & Bingham LLP on

The Consumer Financial Protection Bureau (CFPB) recently finalized various updates to its mortgage disclosure rule, often referred to as “Know Before You Owe” or the TILA-RESPA Integrated Disclosures (TRID). The updates were...more

CFPB Finalizes Amendments to TRID Rule

The Consumer Financial Protection Bureau (CFPB) released final amendments to its “Know Before You Owe” mortgage disclosure rule, which is also known as the TILA-RESPA Integrated Disclosure rule (TRID), on July 7, 2017. As...more

CFPB Finalizes Amendments to the TILA-RESPA Integrated Disclosure (TRID) Rule

On July 7, the Consumer Financial Protection Bureau (Bureau) finalized amendments to federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) that...more

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