In an advisory opinion, the CFPB affirmed that the Equal Credit Opportunity Act and its implementing regulation, Regulation B, protect consumers who are actively seeking credit as well as those who have sought and received credit.
The Treasury Department’s Community Development Financial Institutions Fund today awarded $26 million to 158 FDIC-insured banks through the fiscal year 2021 round of the Bank Enterprise Award Program.
What would my bank report if instead of income it based the credit decision on the assets of the borrower?
The CFPB today signaled its intention to ramp up supervision activity around fair lending laws and unfair, deceptive and abusive acts and practices.
As the credit union industry lobbies Congress this week, the American Bankers Association today urged all members of the House and Senate to question the tax-exempt status of the $2 trillion industry.
In a compliance bulletin issued today, the CFPB signaled that it will hold auto loan holders and servicers “accountable for [unfair, deceptive or abusive acts and practices] related to the repossession of consumers’ vehicles.”
National Credit Union Administration Chairman Todd Harper today made the case that consumer financial protection standards at credit unions should match those adhered to by the nation’s banks.
Three GOP lawmakers today raised concerns about the CFPB’s pending rulemaking to implement Section 1071 of the Dodd-Frank Act.
While expressing support for fair lending laws and regulations, ABA and the state bankers associations yesterday raised concerns about the CFPB’s long-awaited proposed rule to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for small businesses, including women-owned and minority-owned small businesses.
Ensuring your compliance team is ready for what is ahead begins with confronting a set of challenges in these key areas.