There is a little known public database of complaints about financial institutions that is garnering a lot of criticism from some banks and regulators. Despite this criticism, highly valuable information can be gleaned from these complaints that can help banks and other financial institutions better serve their customers. In 2010, when the Dodd-Frank Wall Street […]
In order for the Consumer Financial Protection Bureau (CFPB) to protect millions of consumers from unsound lending, the agency must implement the public disclosure of the enhanced Home Mortgage Disclosure Act (HMDA) data in a rigorous manner that provides comprehensive and public information about loan terms and conditions. NCRC has a mantra about the importance […]
December 21, 2018 Consumer Financial Protection Bureau 1700 G Street NW, Washington, DC 20552 Request for Information Regarding Bureau Data Collections Docket ID CFPB-2018-0031 To whom it may concern: This letter is in response to the request issued by the Consumer Financial Protection Bureau (“the CFPB”) and listed as Docket No. CFPB-2018-0031 in the Federal […]
The student loan ombudsman at CFPB has resigned, saying the agency’s leaders have chosen to serve powerful financial companies instead of consumers.
Quicken Loans overtakes Wells Fargo as the largest loan originator.
Deliberate efforts to undermine the CFPB will not only prove to be a raw deal for millions of Americans but can cause lasting damage to our economy.
As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
The Consumer Financial Protection Bureau stripped the Office of Fair Lending of its enforcement powers. John Taylor, President and CEO of the National Community Reinvestment Coalition said, “I am appalled to see one of the most effective offices within the CFPB stripped of responsibility to stop redlining, predatory lending, and other discriminatory behavior by financial firms.”
Court rules in favor of consumer protection and finds the CFPB’s independent structure constitutional.
Interim Director Mick Mulvaney has stripped CFPB Office of Fair Lending and Equal Opportunities of its enforcement powers against redlining and predatory behavior by financial firms.