CFPB Director Chopra Statement on Appraisal Task Force Report

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding the final report of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE).

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding the final report of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-director-chopra-statement-on-appraisal-task-force-report/

CFPB Shutters Lending by VC-Backed Fintech for Violating Agency Order

Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it co…

Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it continued to engage in illegal and deceptive marketing in violation of a 2016 CFPB order. The lawsuit also accuses LendUp of violating fair lending regulations.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-shutters-lending-by-vc-backed-fintech-for-violating-agency-order/

Statement by CFPB Director Rohit Chopra on HUD Guidance on Special Purpose Credit Programs

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued the following statement: Earlier today, the U.S. Department of Housing and Urban Development released guidance clarifying that special purpose credit programs that conform with th…

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued the following statement: Earlier today, the U.S. Department of Housing and Urban Development released guidance clarifying that special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/statement-by-cfpb-director-rohit-chopra-on-hud-guidance-on-special-purpose-credit-programs/

Prepared Remarks of Acting Director Dave Uejio at the NFHA’s Virtual Forum on Special Purpose Credit Programs

Acting Director Dave Uejio remarks at the National Fair Housing Alliance’s Virtual Forum on Special Purpose Credit Programs

Acting Director Dave Uejio remarks at the National Fair Housing Alliance’s Virtual Forum on Special Purpose Credit Programs

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-acting-director-dave-uejio-nfhas-virtual-forum-special-purpose-credit-programs/

CFPB Clarifies That Discrimination by Lenders on the Basis of Sexual Orientation and Gender Identity Is Illegal

On March 9, 2021, the Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gen…

On March 9, 2021, the Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gender identity discrimination.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-clarifies-discrimination-by-lenders-on-basis-of-sexual-orientation-and-gender-identity-is-illegal/

Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending prac…

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-1st-alliance-lending-llc-and-its-principals-for-alleged-unlawful-mortgage-lending-practices/

Consumer Financial Protection Bureau Releases Outline of Proposals Under Consideration to Implement Small Business Lending Data Collection Requirements

The Consumer Financial Protection Bureau released its Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act governing small business lending data collection and reporting.

The Consumer Financial Protection Bureau released its Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act governing small business lending data collection and reporting.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-outline-proposals-implement-small-business-lending-data-collection-requirements/

CFPB Extends Comment Period on Request for Information on Ways to Prevent Credit Discrimination and Build a More Inclusive Financial System

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers …

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-extends-rfi-comment-period-ways-prevent-credit-discrimination-build-more-inclusive-financial-system/

Oral Testimony of Director Kraninger Before the House Financial Services Committee

Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequ…

Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/oral-testimony-director-kraninger-house-financial-services-committee/

Oral Testimony of Director Kraninger Before the Senate Banking Committee

Chairman Crapo, Ranking Member Brown, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality…

Chairman Crapo, Ranking Member Brown, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/oral-testimony-director-kraninger-senate-banking-committee/