Post Tagged with: "Compliance Insider"

© Can Stock Photo / PetarPaunchev

It’s a New Day for the CFPB

Best Practices, Compliance, Opinion March 22, 2018 at 10:00 am

What a difference a day — or a couple of months — makes! The Consumer Financial Protection Bureau issued its five-year strategic plan in February, and boy does it paint a picture of a kinder, gentler CFPB. Well, maybe neither kind nor gentle, but I’ll settle for an agency interestedRead More

Mick Mulvaney, acting director of the CFPB, photo by Gage Skidmore via Flickr.

3 Possible Resolutions CFPB’s Mulvaney Has for 2018

Compliance, Uncategorized January 10, 2018 at 10:57 am

As I was thinking about the things I want to accomplish personally in the new year, I pondered what the Consumer Financial Protection Bureau’s Acting Director Mick Mulvaney might be thinking about for the direction of bureau’s activities in 2018. As such, I am suggesting three resolutions Mulvaney might considerRead More

Is an Effort Afoot to Improve Repo Communications?

Is an Effort Afoot to Improve Repo Communications?

Compliance, Opinion October 25, 2017 at 8:45 am

In the September issue of the Consumer Financial Protection Bureau’s Supervisory Highlights — in which CFPB supervision staff reports on issues they are seeing in the context of examinations — the staff addresses one of the more axiomatic and frustrating realities facing creditors — trying to retract a repossession order.Read More

The Cynic’s View on the CFPB Arbitration Rule

The Cynic’s View on the CFPB Arbitration Rule

Compliance, Opinion September 5, 2017 at 10:30 am

On July 10, the Consumer Financial Protection Bureau issued the final version of its arbitration rule banning consumer financial services providers from enforcing federal or state court class-action waivers in pre-dispute arbitration agreements. The rule — which takes effect Sept. 19 and with which compliance will be required in MarchRead More

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

Compliance, Operations, Opinion July 10, 2017 at 10:30 am

On June 12, the Supreme Court settled a question about the status of debt buyers under the Fair Debt Collection Practices Act (FDCPA) that has been the subject of uncertainty for years: “Is a person who purchases debt for his own account a debt collector if he tries to collectRead More

Choice … or No Choice?

Choice … or No Choice?

Compliance, Opinion July 3, 2017 at 11:00 am

How’s that Dodd-Frank reform — the Financial Choice Act — coming along? Unless you’ve been under a rock for the last month, you’ll have noticed that things are not going so well for the Trump administration, and by extension, Republicans in the House and Senate. Between the Russia investigation, the FBI director’sRead More

The Plot Thickens: U.S. Court of Appeals to Hear CFPB Case

The Plot Thickens: U.S. Court of Appeals to Hear CFPB Case

Compliance, Opinion April 7, 2017 at 11:58 am

On Feb. 16, the U.S. Court of Appeals for the  D.C. Circuit agreed to rehear en banc PHH Corp. v. The Consumer Financial Protection Bureau. Oral argument is set for May 24. As you may recall, the Consumer Financial Protection Bureau alleged that PHH Corp. had accepted illegal kickbacks fromRead More

Like a Dog with a Bone: Is it Time for the CFPB to Drop Disparate Impact?

Like a Dog with a Bone: Is it Time for the CFPB to Drop Disparate Impact?

Compliance, Opinion February 16, 2017 at 11:38 am

On Jan. 18, the Republican staff of the House Committee on Financial Services issued Unsafe at Any Bureaucracy, Part III: The CFPB’s Vitiated Legal Case Against Auto-Lenders. This was the third in a series of reports addressing the Consumer Financial Protection Bureau’s attempts to hold auto finance companies responsible forRead More

Compliance Insider: Time to Read the Tea Leaves Again

Compliance Insider: Time to Read the Tea Leaves Again

Best Practices, Compliance, Opinion January 26, 2017 at 10:30 am

The looming reality of a Donald Trump administration surely has staffers at many agencies in a tizzy, fearing their work over the last eight years is about to be erased. That’s a bit extreme, but it’s human nature to think the worst is going to happen when politics takes anRead More