CFPB: Spring 2018 Rulemaking Agenda Released
The Bureau’s general purpose, as specified in section 1021 of the Dodd-Frank Act, is to implement and enforce federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive….
CFPB: FFIEC Announces Availability of 2017 HMDA Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
CFPB: Amendent to “Know Before You Owe” Mortgage Disclosure Rule Finalized
Today the Bureau of Consumer Financial Protection (Bureau) finalized an amendment to its “Know Before You Owe” mortgage disclosure rule that addresses when mortgage lenders with a valid justification may pass on increased closing costs to consumers and disclose them on a Closing Disclosure. The update is intended to provide greater clarity and certainty to…
CFPB: 3 Common Credit Issues and What You Can Do to Fix Them
Your credit history can determine if you can get a loan, and even where you live or work. Credit scores are built from your credit history and can determine how much you pay to borrow money for a car or house. Yet, many people don’t know where to start when it comes to building, improving,…
CFPB: Request Issued for Information on Consumer Financial Education
The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) on consumer financial education. The Bureau is seeking comments and information from interested parties to assist the Bureau in assessing the overall efficiency and effectiveness of its consumer financial education programs. This includes the Bureau’s delivery of financial education through online tools,…
CFPB: Bureau Debuts New Official Seal
We are proud to unveil a new seal today at the Bureau. The seal reflects the Bureau’s mission through American imagery and references to the nation’s founding documents. It also aligns the Bureau with the seals of other federal financial regulators. The Dodd-Frank Wall Street Reform and Consumer Financial Protection Act gives the Bureau the…
CFPB: 4 Tips to Spring Clean Your Finances
By Liane Weissenberger Spring is here, and it’s the perfect time to get your home and your finances in order. Here are a few ways to get started spring cleaning your finances: 1. Request a free credit report You can request a free credit report every 12 months from each of the three major consumer…
CFPB: Applications Open for CFPB Advisory Board and Councils
To be sure that we hear from a variety of experts with diverse viewpoints, we set up the Consumer Advisory Board, the Community Bank Advisory Council, and the Credit Union Advisory Council. These advisory groups provide us with information about emerging trends and practices in the consumer financial marketplace. They also allow us to hear…
CFPB: Final Rule Issued to Help Mortgage Servicers Communicate with Certain Borrowers Facing Bankruptcy
The Consumer Financial Protection Bureau (Bureau) today issued a final rule to help mortgage servicers communicate with certain borrowers facing bankruptcy. The final rule gives mortgage servicers more latitude in providing periodic statements to consumers entering or exiting bankruptcy, as required by the Bureau’s 2016 mortgage servicing rule. The Truth in Lending Act requires mortgage…
CFPB: Thinking About Buying a House in 2018? Here’s What You Need to Know
Are you thinking about buying a house this year? We’ve got tools and resources that will help you get your financial house in order as you prepare to look for that perfect place to call home—and shop for a mortgage that’s right for you. Just as in 2017, the supply of homes for sale is…