Consumer Financial Protection Bureau Settles with Short-Term Lender for Unfair and Deceptive Acts and Practices

The Consumer Financial Protection Bureau announced a settlement with Cottonwood Financial, Ltd., which does business under the name Cash Store, on April 1, 2020.

The Consumer Financial Protection Bureau announced a settlement with Cottonwood Financial, Ltd., which does business under the name Cash Store, on April 1, 2020.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-short-term-lender-unfair-deceptive-acts-and-practices/

Consumer Financial Protection Bureau Files Suit Against Fifth Third Bank, National Association for Allegedly Opening Unauthorized Accounts and Enrolling Consumers in Unauthorized Products and Services

The Consumer Financial Protection Bureau (Bureau) filed a lawsuit in federal district court in the Northern District of Illinois against Fifth Third Bank, National Association (Fifth Third).

The Consumer Financial Protection Bureau (Bureau) filed a lawsuit in federal district court in the Northern District of Illinois against Fifth Third Bank, National Association (Fifth Third).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-files-suit-against-fifth-third-for-allegedly-opening-unauthorized-accounts-enrolling-consumers-in-unauthorized-products/

Consumer Financial Protection Bureau Announces Action Against Citizens Bank, N.A.

The Consumer Financial Protection Bureau filed suit against Citizens Bank, N.A., a national banking association headquartered in Providence, Rhode Island.

The Consumer Financial Protection Bureau filed suit against Citizens Bank, N.A., a national banking association headquartered in Providence, Rhode Island.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-action-against-citizens-bank/

Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule

The Consumer Financial Protection Bureau (Bureau) is requesting public comment on an assessment it will conduct on the TRID integrated disclosure rule (the Truth in Lending Act and Real Estate Settlement Procedures Act). 

The Consumer Financial Protection Bureau (Bureau) is requesting public comment on an assessment it will conduct on the TRID integrated disclosure rule (the Truth in Lending Act and Real Estate Settlement Procedures Act). 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-to-assess-integrated-mortgage-disclosure-rule/

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators

The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November…

The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-interpretitive-rule-screening-and-training-requirements-mortgage-loan-originators/

Consumer Financial Protection Bureau Releases Qualified Mortgage ANPR

The Consumer Financial Protection Bureau today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for mortgag…

The Consumer Financial Protection Bureau today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for mortgages purchased or guaranteed by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, in the Bureau’s Ability to Repay/Qualified Mortgage (ATR/QM) Rule. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-releases-qualified-mortgage-anpr/