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Lending

CFPB channels YouTube to help lenders with compliance

May 15, 2013

Lately, the Consumer Financial Protection Bureau has been the hottest, and maybe not the most positive talk around the water cooler.

But, the agency is striving not to be the bad guy.

In a new campaign, the CFPB is slowly releasing new guides and summaries to help banks and non-banks understand the mortgage rules.

Earlier in the month, the bureau released a few guides to help lenders understand various compliance issues, diving further into what each rule entails. 

Taking it a step further, the CFPB just released seven video presentations on YouTube, ranging from 2 minutes to an hour.

"These videos are part of a larger effort on our part to help you to comply with the Dodd-Frank Act mortgage reforms and with our rules," CFPB Director Richard Cordray asserted in one of the videos.

Ultimately, Cordray said the bureau is trying to make our rules more understandable and user-friendly.

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