Nearly half of mortgage complaints covered problems when a borrower was unable to pay, such as seeking a modification or dealing with a foreclosure. For deposit account complaints, almost half were about opening, closing or maintaining accounts. “For military personnel and their families, the realities of military life, including deployments, frequent moves, and a high operational tempo, can sometimes make access to those services extremely challenging,” said CFPB official Holly Petraeus.
ABA offers fixes for small-business lending data collection rule
In a letter, ABA said it is pleased with the CFPB's proposal to revise its small-business lending data rule and offered several recommendations to reduce the compliance burden for banks.