| Date | Title | Description |
| 09.11.2024 | Wall Street drafts Trump wish lists over bank capital, SEC regulation | Boards, Policy & RegulationUS Elections
Regulatory Oversight
Political Lobbying
Wall Street drafts Trump wish lists over bank capital, SEC regulation
By Pete Schroeder and Chris PrenticeNovember 8, 202410:28 PM UTCUpdated ago
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| 02.11.2024 | US agency settles with Chicago mortgage firm over racial discrimination claims | Boards, Policy & RegulationGovernment
Regulatory Oversight
Civil Rights
Capital Markets
US agency settles with Chicago mortgage firm over racial discrimination claims
By ReutersNovember 1, 202410:12 PM UTCUpdated ago
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| 01.11.2024 | Biden-Harris Administration to End Online Junk Fees for Low-Income Families Paying for School Meals | WASHINGTON, Nov. 1, 2024 – Agriculture Secretary Tom Vilsack today announced that students eligible for free and reduced price school meals must not be charged junk fees along with the cost of a meal served through the School Breakfast Prog... |
| 26.10.2024 | Options for Students When Financial Aid Isn’t Sufficient | Share
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For many students, financial aid is a vital lifeline, providing essential funds for tuition, books, and living expenses. However, financial aid packages often fall short of covering all costs, leaving students ... |
| 25.10.2024 | The Price of Neglect: Airlines and Tech Giants Face Heavy Fines for Passenger and Consumer Rights Violations | In a world where convenience reigns supreme, the treatment of passengers and consumers often takes a backseat. Recent fines levied against American Airlines and the partnership of Apple and Goldman Sachs shine a spotlight on this troubling ... |
| 25.10.2024 | Business | What the latest bad news for the Apple Card means for customers | Issues with cardholder disputes
By law, consumers can dispute a credit card charge within 60 days when they see a fraudulent or incorrect charge on their credit card bill, or if a merchant fails to resolve an issue with a purchase. Followin... |
| 24.10.2024 | Apple and Goldman Sachs Face Consequences for Apple Card Missteps | In a digital age where convenience reigns supreme, the partnership between Apple and Goldman Sachs was hailed as a game-changer. The Apple Card, launched in 2019, promised seamless integration with Apple Pay and a user-friendly experience. ... |
| 24.10.2024 | Apple and Goldman Sachs Were Fined Nearly $90 Million By the Consumer Financial Protection Bureau — Here's Why The companies were ordered to pay compensation for Apple Card failures. | On Wednesday, the Consumer Financial Protection Bureau (CFPB) ordered Apple and Goldman Sachs to compensate customers affected by "customer service breakdowns and misrepresentations" with the Apple Card credit card.
The failures &... |
| 23.10.2024 | US banking industry files legal challenge against new 'open banking' rules | Boards, Policy & RegulationGovernment
Regulatory Oversight
Finance & Banking
Securities Enforcement
US banking industry files legal challenge against new 'open banking' rules
By ReutersOctober 22, 202410:06 PM UTCUpdated ago
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| 23.10.2024 | Apple and Goldman Sachs must pay $89 million for mishandling Apple Card transactions, CFPB orders | Goldman spokesperson Nick Carcaterra echoed that sentiment, noting the investment bank was proud to develop the credit card product with Apple, and said it was pleased to reach a resolution with the CFPB. Both companies also maintained that... |
| 22.10.2024 | Reverse educators take on more HECM misconceptions | Reverse mortgage educators Dan Hultquist and Jim McMinn brought their “Rules of the Game” presentation back to the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo this year in San Diego. After getting some of t... |
| 22.10.2024 | 'Open banking' rules for consumer data unveiled by US watchdog | :The top U.S. watchdog agency for consumer financial protection on Tuesday unveiled long-awaited rules intended to drive a shift toward open banking and spur competition, saying they would allow consumers to control and share their own data... |
| 18.10.2024 | FICO Scores: The Rising Tide of Costs and Implications for Homebuyers | The landscape of mortgage credit scores is shifting. Analysts predict a significant price hike for FICO scores in 2025. This change could ripple through the housing market, affecting homebuyers and lenders alike. The Fair Isaac Corporation ... |
| 17.10.2024 | Prices for FICO scores are predicted to rise — again — in 2025 | Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications.
Fair Isaac Corp. (FICO), the company that retains the rights to the mark... |
| 11.10.2024 | The Rise of Trade Associations and the Fight Against Junk Fees | In the world of business, trade associations are like lighthouses in a storm. They guide industries through turbulent waters, advocating for their members and shaping policy. The International Franchise Association (IFA) has emerged as a be... |
| 10.10.2024 | Kamala Harris win may boost US effort to rein in 'junk fees' levied on consumers | Boards, Policy & RegulationUS Elections
Regulatory Oversight
Kamala Harris win may boost US effort to rein in 'junk fees' levied on consumers
By Makailah Gause and Pete SchroederOctober 10, 202410:07 AM UTCUpdated ago
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| 10.10.2024 | Who are buy now, pay later borrowers, and what are they buying? | TechnologyWho are buy now, pay later borrowers, and what are they buying?
By Hannah LangOctober 10, 202410:22 AM UTCUpdated ago
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| 10.10.2024 | Who are buy now, pay later borrowers, and what are they buying? | As Amazon's Prime Day kicked off the holiday shopping season this week, U.S. consumers are expected to spend a record $18.5 billion using buy now, pay later for purchases in the last quarter of the year, according to projections by data fir... |
| 02.10.2024 | Readout of Justice Department’s “Walk the Redline” Event to Commemorate the Third Anniversary of the Combating Redlining Initiative | To commemorate the third anniversary of the Justice Department's Combating Redlining Initiative, Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division and U.S. Attorney Matthew M. Graves for the Distric... |
| 18.09.2024 | Housing Hurdles: The Race for Affordable Homes in America | The American dream of homeownership is slipping through the fingers of many. Rising home prices and high mortgage rates have turned the housing market into a battleground. Candidates are stepping up with plans, but will they be enough? Kama... |
| 17.09.2024 |
Could Kamala Harris’ ambitious housing plan actually pass? Maaaybe | A historic rise in home prices and nearly three years of high mortgage rates have put housing issues front and center in the 2024 presidential campaign. Kamala Harris has outlined an ambitious vision for housing that would involve the const... |
| 17.09.2024 | US watchdog warns banks about customer consent for overdraft fees | Boards, Policy & RegulationRegulatory Oversight
US watchdog warns banks about customer consent for overdraft fees
By ReutersSeptember 17, 20243:54 PM UTCUpdated ago
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| 13.09.2024 | The Future of Mortgage Assistance: Bridging Gaps and Embracing Innovation | In the world of finance, the landscape shifts like sand underfoot. The housing market, a vital pillar of the economy, faces constant challenges. Two recent developments highlight the need for innovation and support in this sector: the evolu... |
| 12.09.2024 |
CFPB slaps TD Bank with $28M fine for consumer protection violations | The Consumer Financial Protection Bureau (CFPB) has ordered TD Bank to pay $28 million for illegal actions that could tarnish consumer credit reports and for not taking timely action to correct its errors.
The CFPB’s investigation found tha... |
| 11.09.2024 | Navigating the Mortgage Maze: A Call for Change in Refinancing and Loss Mitigation | The mortgage landscape is a labyrinth. Borrowers often find themselves lost in a maze of regulations, costs, and processes. The Consumer Financial Protection Bureau (CFPB) is stepping into this maze, armed with a map and a desire for reform... |
| 11.09.2024 |
UWM will use AI to tap into refi pools | Michigan-based United Wholesale Mortgage (UWM) has launched proprietary technology that will use artificial intelligence (AI) to send pre-validated refinance opportunities.
Dubbed “KEEP,” the system identifies borrowers who can save on thei... |
| 09.09.2024 |
CHLA urges ‘balancing’ of consumer, servicer needs in loss-mitigation proposal | The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to balance the time frame and processes of loss mitigation in its revisions to... |
| 09.09.2024 |
CFPB director open to changing mortgage regs to fix refi process | The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. And Rohit Chopra, the hard-charging director of the Consumer Fin... |
| 30.08.2024 | The Rising Tide of Bank Fees: A Financial Burden for Consumers | In the world of banking, fees are like shadows—always lurking, often unnoticed until they loom large. Recent surveys reveal a troubling trend: ATM fees and overdraft charges are climbing to heights not seen in decades. This is a financial s... |
| 30.08.2024 | Fintech banking apps – what you need to know | Here are some things to consider if you choose an app that isn’t provided directly by a bank: Common clues your banking app may not be a bank
Unfortunately, it is not always clear whether your banking services are being provided by a bank o... |
| 29.08.2024 |
CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refis | Florida-based V.A.-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out r... |
| 27.08.2024 | Business | Survey: ATM fees reach 26-year high while overdraft fees inch back up | Key insights from Bankrate’s 2024 checking account and ATM fee studyATM fees: Combined charges reach all-time high
When a consumer uses an ATM that’s not in their bank’s network, there are two charges that can result. The ATM owner may impo... |
| 21.08.2024 | Navigating the Housing Market in 2024: Opportunities and Challenges | The housing market in 2024 is a landscape of contrasts. Buyers are feeling the heat, but there’s a silver lining. Interest rates are poised to drop, and inventory is on the rise. Yet, home prices continue to climb, creating a complex enviro... |
| 21.08.2024 |
New York spotlights reverse mortgage scam risk on National Senior Citizens Day | In conjunction with National Senior Citizens Day on Wednesday, the New York Department of State’s Division of Consumer Protection is circulating a series of tips that aim to help older adults avoid financial scams and exploitation. One way ... |
| 21.08.2024 |
CFPB orders Fay Servicing to pay $2M over illegal foreclosure practices | The Consumer Financial Protection Bureau (CFPB) has settled a case with Florida-based Fay Servicing over illegal conduct in foreclosures. The deal includes a $2 million fine and potential limitations to the CEO’s compensation.
A company spo... |
| 20.08.2024 |
ABA has ‘significant concerns’ with CFPB proposal to ban medical debt from credit reports | The American Bankers Association (ABA) last week submitted a letter to the Consumer Financial Protection Bureau (CFPB) in which it expressed “significant concerns” about a proposed rule that would ban medical debt from appearing on consumer... |
| 20.08.2024 | Business | Buying a house in 2024: What’s changed? | To put that in perspective: Let’s say you can afford $1,800 per month in principal and interest. At a 7% interest rate, you could afford to borrow $270,600. But at a 6% interest rate, you could afford to borrow $300,200 — nearly $30,000 mor... |
| 20.08.2024 | Google три месяца не удаляла мошенническое приложение для кражи криптовалюты | Google потребовалось три месяца, чтобы удалить мошенническое приложение, укравшее у пользователей более $5 млн в криптовалюте. Они загружали сервис из магазина Google Play.
Хотя компания получила жалобу на приложение от Бюро по защите прав ... |
| 19.08.2024 | VA Fraud Awareness and Reporting | The Department of Veterans Affairs (VA) and VA accredited representatives, like Veteran Service Officers (VSO), are combining forces to ensure Veterans benefits are protected. Veterans and their beneficiaries are often targets of companies ... |
| 17.08.2024 | Cybersecurity and Consumer Protection: A Tale of Two Agencies | In the digital age, security and consumer protection are paramount. Two recent reports highlight the vulnerabilities and challenges faced by federal agencies in these realms. The Federal Housing Finance Agency (FHFA) and the American Land T... |
| 14.08.2024 | The Mirage of Homeownership: Understanding Contracts for Deed | In the landscape of American homeownership, contracts for deed stand as a double-edged sword. They promise the dream of owning a home but often deliver a nightmare. The Consumer Financial Protection Bureau (CFPB) recently shed light on this... |
| 13.08.2024 |
Contracts for deed are under federal mortgage protections: CFPB | The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections.
In these contracts – also known as “land c... |
| 13.08.2024 |
ALTA responds to CFPB’s inquiry on mortgage fees | The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau making drastic changes to title insurance without first at least hearing the trade groups thoughts on the issue.
In a 15-page... |
| 06.08.2024 | Citigroup whistleblower denied share of $400 million penalty | Boards, Policy & RegulationRegulatory Oversight
Citigroup whistleblower denied share of $400 million penalty
By Jonathan StempelAugust 6, 20247:21 PM UTCUpdated ago
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| 02.08.2024 | The Real Estate Landscape: Navigating Change Amidst Competition | The real estate industry is on the brink of a seismic shift. As the 2024 Summer Olympics in Paris approach, real estate agents across the U.S. are preparing for their own version of the Games. The stakes are high. On August 17, the National... |
| 02.08.2024 |
Retiree lost $740K in savings through elaborate scam: NY Times | Older Americans are increasingly being caught up in elaborate scams designed by perpetrators to drain them of their retirement savings, with the detail and scale of such scams sometimes requiring the intervention of federal law enforcement.... |
| 01.08.2024 |
CHLA: Lack of competition has driven up third-party closing costs | The Community Home Lenders of America (CHLA) on Thursday issued a comment letter to the Consumer Financial Protection Bureau (CFPB), saying that a major reason for the increase in mortgage closing costs from third parties is due to a lack o... |
| 01.08.2024 |
Divergent paths: Housing market policies under a Trump or Harris administration | For anyone wondering what a Democratic or Republican presidential administration might look like for the housing market in 2025 and beyond, industry experts can provide some insights based on their experience in government, proximity to D.C... |
| 31.07.2024 | Mortgage Complaints and Reverse Mortgages: A Tale of Two Trends | In the ever-shifting landscape of American finance, two stories emerge. One is about a decline in mortgage complaints, while the other focuses on a unique state program for reverse mortgages. Together, they paint a picture of a market in fl... |
| 31.07.2024 |
Kamala Harris: I‘m ready to ‘take on corporate landlords and cap unfair rent increases’ | U.S. Vice President Kamala Harris is now the presumptive Democratic Party nominee in this November’s presidential election, and at her first major rally since replacing President Joe Biden at the top of the ticket, she took time to highligh... |
| 30.07.2024 |
Fewer mortgage complaints filed in Q2: CFPB | Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingW... |
| 29.07.2024 |
Your roadmap to the ever-evolving landscape of mortgage regulations | The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. This guide will ... |
| 25.07.2024 | The Olympic Stage: Women’s Soccer in Paris 2024**
** | ** The 2024 Olympics are set to ignite in Paris, and the women’s soccer competition is a hotbed of intrigue. This tournament is more than just a series of matches; it’s a canvas painted with stories of redemption, ambition, and change. The ... |
| 22.07.2024 | Business | The end of Chevron deference is a ‘power shift’ for investors | Jeff Sovern, a professor of consumer law at the University of Maryland Carey School of Law, summarizes Chevron deference this way:
“Congress writes statutes, and they can’t predict everything. No one can. So they leave gaps; they’re human. ... |
| 22.07.2024 |
Dave Liniger discusses AI and the evolution of the real estate industry | Since starting his career in the real estate industry more than five decades ago, Dave Liniger, the co-founder of RE/MAX, has seen and experienced quite a bit of change and innovation.
While the emergence of technology tools is not new to t... |
| 21.07.2024 |
President Joe Biden ends 2024 reelection bid, endorses Harris | President Joe Biden announced Sunday that he is stepping out of the race for reelection. This follows a disastrous debate performance three weeks ago that spurred high-level calls from his own party to step aside.
In a letter posted on X on... |
| 19.07.2024 | CFPB Proposes Interpretive Rule to Ensure Workers Know Costs, Fees of Paycheck Advance Products | The Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act.
The guidance... |
| 18.07.2024 |
Five federal agencies finalize new guidance for ROVs | A coalition of five federal agencies — the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corp. (FDIC), the Federal Reserve Board, the National Credit Union Administration (NCUA) and the Office of the Comptroller... |
| 17.07.2024 |
Regulators give green light to final AVM rules | Six U.S. regulators announced on Wednesday that they have approved a final rule that requires mortgage originators and secondary market issuers to impose quality control standards for their automated valuation models (AVMs).
In June, the Of... |
| 15.07.2024 |
Mark Calabria on housing and GSE conservatorship under Trump 2.0 | How would the housing market fare under a potential second Trump administration? Mark Calabria, the former Federal Housing Finance Agency (FHFA) director under Trump, has some ideas. And no surprise — he’d like to be part of that administra... |
| 12.07.2024 |
2023 HMDA data: IMBs up to 69% market share | The latest 2023 Home Mortgage Disclosure Act (HMDA) data is in, and it confirms a few key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating... |
| 11.07.2024 | Business | How to use buy now, pay later like a pro | “They can look at their budget in general,” says Trent Graham, a program performance and quality assurance specialist at GreenPath, a nonprofit credit counseling agency. “What’s the cash coming in compared to the cash going out without use ... |
| 11.07.2024 |
CFPB’s authority affirmed in appeal against Townstone Financial | The Consumer Financial Protection Bureau (CFPB) has broad authority under the Equal Credit Opportunity Act (ECOA) to prohibit discrimination against credit applicants and from discouraging prospective applicants for credit.
This reinforces ... |
| 10.07.2024 | Business | House-rich, cash-strapped: Advice for older homeowners | HELOCs: for qualified borrowers who want flexibility
If you need cash to finance a multistep project — for example, making some upgrades to your home to improve accessibility — the first option to consider is a home equity line of credit, o... |
| 10.07.2024 |
CFPB proposes new servicing rules that would focus on foreclosure assistance | The Consumer Financial Protection Bureau (CFPB) on Wednesday announced a newly proposed rule that would amend Regulation X and require mortgage servicers to emphasize borrower assistance and loss-mitigation options over foreclosure when a b... |
| 08.07.2024 | What is Project 2025? What to know about the conservative blueprint for a second Trump administration | Washington — Voters in recent weeks have begun to hear the name "Project 2025" invoked more and more by President Biden and Democrats, as they seek to sound the alarm about what could be in store if former President Donald Trump w... |
| 05.07.2024 |
MBA sees risk in new Florida law that gives first-lien priority to PACE loans | The Mortgage Bankers Association (MBA) this week detailed its reasons for opposing a bill in the state of Florida designed “to expand projects eligible for residential Property Assessed Clean Energy (PACE) financing,” which was recently sig... |
| 05.07.2024 | How generative AI is changing the mortgage process | One commonly used technology in underwriting is OCR, or Optical Character Recognition. OCR allows a loan officer or underwriter to upload an image of text, printed or handwritten, and have that text transferred to a digital format.
“I’d put... |
| 04.07.2024 | National Politics | In blockbuster term, Supreme Court boosts its own sway | Clare Pastore, a law professor at the USC Gould School of Law, said the changes from those decisions will reverberate for years to come, encouraging constant lawsuits over both new and existing federal rules, with litigants shopping around ... |
| 02.07.2024 |
CFPB Director Rohit Chopra on who’s going to benefit from mortgage automation | Editor in Chief Sarah Wheeler sat down with Consumer Financial Protection Bureau Director Rohit Chopra for a podcast this week and the talk turned to technology and tech companies. This interview has been edited for length and clarity. List... |
| 02.07.2024 |
CFPB, FHFA release updated mortgage originations survey data | The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) this week released updated loan-level data collected through the National Survey of Mortgage Originations (NSMO), according to a joint announcemen... |
| 02.07.2024 |
CFPB fair lending head to depart for Fannie Mae | Patrice Ficklin, who has served at the Consumer Financial Protection Bureau (CFPB) since the agency’s founding in 2011, will depart for Fannie Mae to serve as the government-sponsored enterprise’s fair lending officer. The news was first re... |
| 02.07.2024 |
CFPB Director Rohit Chopra on junk fees, the new AVM rule and more | - |
| 28.06.2024 |
Opinion: Title insurance is an essential consumer protection | Title insurance provides vital protection to the largest and most important purchase most Americans will ever make—their home. Without this essential product, owners could be forced to pay out of pocket to settle costly challenges to their ... |
| 27.06.2024 |
Supreme Court limits SEC enforcement by striking in-house courts | The U.S. Supreme Court on Thursday announced a decision that strips the Securities and Exchange Commission (SEC) of its ability to try civil financial fraud cases in its in-house court system, ruling that defendants in these cases have the ... |
| 25.06.2024 |
CFPB turns rulemaking eye toward AI use in automated home appraisals | The Consumer Financial Protection Bureau (CFPB) this week announced the approval of a new rule that aims to govern “current and future applications of complex algorithms and artificial intelligence used to estimate the value of a home.” The... |
| 21.06.2024 |
Chris Clow on the CFPB’s focus on reverse lending and servicing | - |
| 20.06.2024 | Apple Discontinues Apple Pay Later Service in the U.S. | Apple pulls the plug on its buy now, pay later service, Apple Pay Later, after less than a year in operation. The move comes as Apple gears up to introduce new Apple Pay features this fall, including installment loans through Affirm.
Apple ... |
| 20.06.2024 |
Federal regulators approve final rule for AVM usage | On Thursday, two U.S. regulators — the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) — announced their approval of a final rule imposing quality control standards for automated valuation mode... |
| 18.06.2024 | Apple discontinues its buy now, pay later service in the U.S. | Apple has shut down its buy now, pay later service known as Apple Pay Later, less than a year after launching it.
The service was discontinued in the U.S. as of Monday, ahead of Apple's launch of new Apple Pay features, set to hit iPhones t... |
| 18.06.2024 |
First-time homebuyers: From 2023 challenges to 2024 realities | Given a backdrop of escalating mortgage rates and soaring home prices, the prospect for first-time homebuyers (FTBs) in 2023 was daunting. The average FTB faced a significant financial burden, with monthly principal and interest (P&I) p... |
| 18.06.2024 |
CFPB takes enforcement action against former HECM servicing contractor | The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a series of enforcement actions against two companies for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their home... |
| 14.06.2024 | Proposed Federal Rule Would Remove Medical Debt From Credit Reports | Arkansans may soon have medical debt information eliminated from their credit reports under a proposed rule by the Consumer Financial Protection Bureau (CFPB) issued Tuesday, June 11.
The CFPB’s action follows a 2022 report which found that... |
| 14.06.2024 | Commentary | Guest opinion: DJ Summers: Credit card rewards programs are at risk | The reality is, most Americans like their credit cards and don’t see a need to overhaul the current system. Most of us choose credit cards specifically for the rewards we can earn so it’s ridiculous that Washington politicians are trying to... |
| 13.06.2024 | Traceable AI uncovers growing API security issues in finance | Traceable AI has released a comprehensive report highlighting the significant concerns around API security within the financial services industry. The study surveyed over 150 cybersecurity professionals based in the United States, revealing... |
| 13.06.2024 | Business | Medical debt could vanish from credit reports. What to do now | Americans who have medical debt on their credit reports may see a 20-point bump in their credit scores on average, the CFPB says.
Beyond its effects on credit, the rule would provide protections that could impact consumers’ health and safet... |
| 12.06.2024 |
Should we be worried about the number of underwater homes? | Should we be concerned about the number of homeowners who are underwater on their homes? Recent data from Attom showed that 1 out of every 37 homes were severely underwater, something I talked about on CNBC recently, but CoreLogic data prov... |
| 12.06.2024 |
CFPB proposal would ban medical debt from credit reports | The Consumer Financial Protection Bureau (CFPB) announced Tuesday that it was proposing a rule to remove medical bills from most credit reports. In doing so, this would prevent credit-reporting companies from sharing medical debts with mort... |
| 11.06.2024 | Biden administration to bar medical debt from credit reports | Gov. Pritzker wants to eliminate medical debt for 1M in Illinois
Gov. Pritzker wants to eliminate medical debt for 1M in Illinois 00:38
Medical debt will be stricken from credit reports in a change proposed by the White House that could hel... |
| 11.06.2024 |
Reverse mortgage consumer complaints decline on a yearly basis: CFPB | There were a total of 131 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) between Jan. 1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the... |
| 11.06.2024 |
What’s new in QC and Compliance | In a market where every dollar matters, revenue retention areas like quality control and compliance are more critical than ever. Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and co... |
| 08.06.2024 | Mortgage closing fees are in the hot seat. Here's why the feds are looking into them. | The Consumer Federal Protection Bureau last week launched an inquiry into what the agency is calling "junk fees in mortgage closing costs." These additional fees, involving home appraisal, title insurance and other services, have ... |
| 04.06.2024 |
CFPB issues warning on ‘fine-print tactics‘ used to ‘trick‘ consumers | On an enforcement streak since the U.S. Supreme Court rejected a challenge to its funding mechanism in mid-May, the Consumer Financial Protection Bureau (CFPB) is now targeting the use of what it deemed ”unlawful or unenforceable” terms and... |
| 03.06.2024 |
CFPB creates public database of nonbank repeat offenders | The Consumer Financial Protection Bureau (CFPB) is creating a public database to identify nonbank financial companies that violate consumer laws, aiming to avoid recidivism trends.
On Monday, the U.S. consumer financial watchdog announced t... |
| 03.06.2024 | CFPB Launches Directory of Scofflaws, Establishes Repeat Offender Unit | The Consumer Financial Protection Bureau (CFPB) is launching a new public directory to detect repeat offenders. The agency notes that while many financial services firms are widely known, and thus any alleged transgressions are reported, th... |
| 31.05.2024 |
Lenders file class-action lawsuit against Equifax, citing monopoly in work number product | Mortgage lenders First Financial Lending and Greystone Mortgage filed a class-action-seeking lawsuit this week accusing credit reporting agency Equifax of maintaining a monopoly in the market for electronic income and employment verificatio... |
| 31.05.2024 |
James Kleimann on the CFPB’s RFI and NAR’s membership numbers | - |
| 30.05.2024 |
CFPB issues info request for mortgage closing costs in assault on ‘junk fees‘ | The Consumer Financial Protection Bureau (CFPB) on Thursday issued a new request for information (RFI) from the public concerning “fees charged by providers of mortgages and related settlement services,” according to the RFI document review... |
| 30.05.2024 | Balancing Act: SoLo Funds, Fintech Regulation, and the Quest for Financial Equity | Equity and fairness must be the foundational concepts of financial services. These principles guarantee that everyone, regardless of their economic background, race, or geographic location, has access to financial products tailored to their... |
| 29.05.2024 |
Buy now, pay later: How do mortgage pros deal with ‘phantom debt’? | Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., changed his firm’s preapproval process for home purchase applicants.
Racamato is now orienting his team to look closely at clients’ b... |
