Articles Tagged with ''CFPB''

CFPB joins global fintech regulation effort

Regulators look to trial cross-border solutions
The CFPB announced it will begin working with other regulators across the globe on fintech regulation efforts. The bureau will be working in collaboration with 11 other financial regulators across the world in their new initiative to create the Global Financial Innovation Network.
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NAFCU pushes CFPB for more exceptions to payday lending rule

Wants all "payday alternative loans exempted"
Back in October last year, the CFPB announced its new 1,690-page-long payday lending rule that included several exceptions for credit unions. The final rule exempts some loans issued by credit unions in conformance with the NCUA for PAL loans, but now, NAFCU wants more.
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Monday Morning Cup of Coffee: Is the housing market finally slowing down?

California fires continue to rage
As we head into the hottest month of the year, is home price growth finally starting to cool down? It looks like it might. For the first time in almost four years, home prices posted three straight months of declines in annual appreciation. But as the housing market cools, California continues to heat up as wildfires sweep across the state, claiming yet more victims.
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Senate postpones vote for next CFPB director

New date yet to be determined
The Senate Banking Committee was set to vote Thursday on the confirmation of the next director of the Consumer Financial Protection Bureau but announced suddenly that it would postpone its vote. The new date for the vote is still to be determined.
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Mulvaney’s shot at new White House position falls through

Chief of Staff John Kelly announces plans to stay until 2020
CFPB Acting Director Mick Mulvaney was rumored to be in the running to become President Donald Trump’s next chief of staff, however, that job may have just fallen through the cracks. As it turns out, current Chief of Staff John Kelly announced he will be sticking around until 2020.
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Senate slams CFPB director nominee Kraninger in hearing

But gets few answers
Last month, President Donald Trump nominated Office of Budget and Management Deputy Kathy Kraninger as the next director of the CFPB. Thursday, Kraninger appeared before the Senate Committee on Banking, Housing and Urban Affairs for her nomination hearing. As expected, the hearing had its share of controversy. Here’s what was – and wasn't – said.
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NAMB urges CFPB to re-examine policies

Asks bureau to develop process to reclassify consumers’ submissions
The National Association of Mortgage Brokers recently asked the Consumer Financial Protection Bureau to address immediate changes needed within the Consumer Complaint and Consumer Inquiry Handling Processes. NAMB states that the bureau falsely reported that consumers were experiencing extensive issues with mortgage brokers, but 90% of complaints were registered against lender and bank loan originators, not mortgage brokers.
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Trump administration doubles down against crypto fraud

New task force led by CFPB, other government regulators
The future of bitcoin and other cryptocurrencies is far from certain, but that hasn’t stopped people from investing in it or even using it to make major real estate purchases. But as cryptocurrencies grow, so does the potential for fraud. Now, President Donald Trump is setting up a new task force to combat crypto crime.
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