CFPB resumes collection of personally identifiable information for examinations
CFPB Acting Director Mick Mulvaney reportedly announced on Thursday that he was lifting the freeze on the CFPB’s collection of personally identifiable information (PII) from companies it supervises....
View ArticleCFPB suspending routine supervisory examinations for MLA compliance
On August 10, the New York Times reported that Mick Mulvaney, the CFPB Acting Director, intends to dispense with routine supervisory examinations of creditors for violations of the Military Lending Act...
View ArticleCFPB issues Summer 2018 Supervisory Highlights; Ballard Spahr to hold October...
The CFPB’s newly-released Summer 2018 edition of Supervisory Highlights represents the CFPB’s first Supervisory Highlights report covering supervisory activities conducted under Acting Director Mick...
View ArticleThis Week’s Podcast: The CFPB Under New Leadership: What Has Changed?
In this week’s podcast, Ballard Spahr partners Alan Kaplinsky and Chris Willis examine how the CFPB has changed under the leadership of Acting Director Mick Mulvaney and their expectations for future...
View ArticleCFPB Supervisory Highlights looks at auto loan ancillary product refunds
Yesterday, the CFPB released the Winter 2019 edition of its Supervisory Highlights. The report discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage...
View ArticleCFPB Winter 2019 Supervisory Highlights focuses on deposits, mortgage loan...
The CFPB’s Winter 2019 Supervisory Highlights discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage loan servicing, and remittances. We discussed...
View ArticleThis week’s podcast: A close look at the CFPB’s mortgage loan servicing exam...
Mortgage servicing continues to be a CFPB supervisory focus. In this week’s podcast, we take a close look at the CFPB’s findings involving late fees, PMI cancellation requests, handling of loss...
View ArticleCFPB relationship with Dept. of Education discussed in Kraninger letter on...
In a letter sent to Senator Elizabeth Warren regarding the CFPB’s supervision of student loan servicers, CFPB Director Kathy Kraninger discussed the Bureau’s relationship with the Department of...
View ArticleFDIC 2018 Consumer Compliance Supervisory Highlights focuses on overdraft,...
Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. Importantly, the highlights include...
View ArticleCFPB Summer 2019 Supervisory Highlights looks at GAP products, credit card...
The CFPB has released the Summer 2019 edition of its Supervisory Highlights. The report discusses the Bureau’s examination findings in the areas of automobile loan originations, credit card account...
View ArticleCFPB issues special edition of Supervisory Highlights focused on consumer...
The CFPB has issued a special edition of its Supervisory Highlights that focuses on compliance with the FCRA and Regulation V. The report contains two main sections, with one devoted to supervisory...
View ArticleCFPB issues policy statement on abusiveness standard
The CFPB has issued a policy statement to clarify the Dodd-Frank Act’s abusiveness standard. The policy statement, which is applicable as of January 24, 2020, states that it describes “certain aspects...
View ArticleCFPB Winter 2020 Supervisory Highlights looks at debt collection, mortgage...
The CFPB has released the Winter 2020 edition of its Supervisory Highlights. The report discusses the Bureau’s examinations in the areas of debt collection, mortgage servicing, payday lending, and...
View ArticleThis week’s podcast: CFPB exam findings related to short-term small-dollar...
We review the CFPB’s findings that lenders engaged in deceptive practices and violated Regulation Z advertising requirements based on the following conduct and discuss the findings’ compliance...
View ArticleThis week’s podcast: CFPB exam findings in Summer 2020 Supervisory Highlights...
We review the following findings and discuss their compliance implications: FCRA violations based on obtaining credit reports without a permissible purpose, incorrectly reporting the date of first...
View ArticleCFPB Halts Planned Shake Up of Enforcement and Supervisory Functions
Coming on the heels of the Presidential election results, the CFPB circulated an internal e-mail suspending a reorganization that would have stripped the Office of Enforcement’s autonomy to open...
View ArticleCFPB issues special edition of Supervisory Highlights on COVID-19 prioritized...
The CFPB has issued “Supervisory Highlights COVID-19 Prioritized Assessments Special Edition.” The report indicates that in May 2020, the Bureau rescheduled about half of its planned examinations and...
View ArticleCFPB rescinds 2018 bulletin on supervisory communications and issues...
In addition to rescinding seven policy statements providing flexibility to companies in meeting certain compliance obligations during the pandemic, the CFPB has also rescinded its 2018 bulletin...
View ArticleCFPB Fall 2021 Supervisory Highlights looks at credit cards, debt collection,...
The CFPB has released the Fall 2021 edition of its Supervisory Highlights. The report discusses the Bureau’s examinations in the areas of credit card account management, debt collection, deposits,...
View ArticleCFPB to begin examining post-secondary schools that loan directly to students
The CFPB has announced that it will begin examining post-secondary schools, such as for-profit colleges, that extend private loans directly to students and/or parents to fund undergraduate, graduate,...
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