Lawyers USA Online » Consumer Financial Protection Bureau

Banking lawyers uneasy about national loan data collection

Sylvia Hsieh — Tue, 07 May 2013 18:51:51 +0000

Recent Senate hearings have sparked renewed debate over a national mortgage database that will hold information about millions of mortgage, credit card and auto loans, loan terms, borrowers’ credit profiles and financial information.

The project — the largest database of its kind — was announced in November as a joint
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Obama administration asks Supreme Court to reverse recess appointment ruling

Kimberly Atkins — Sat, 27 Apr 2013 01:43:49 +0000

WASHINGTON – Saying that the ruling unduly restricts presidential authority, the Obama administration has asked the U.S. Supreme Court to strike down a federal appellate court decision invalidating last year’s recess appointments to the National Labor Relations Board.

The administration chose to go directly to the nation’s highest court rather
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FTC touts actions against abusive debt collectors

Pat Murphy — Mon, 25 Feb 2013 12:52:23 +0000

Over the past 12 months, the Federal Trade Commission has brought or resolved cases against four debt collectors that allegedly used deceptive or abusive tactics to intimidate consumers, according to a new report by the agency.

During the same period, the FTC also reported actions and/or settlements against three so-called
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CFPB issues new mortgage rules

Kimberly Atkins — Fri, 11 Jan 2013 14:17:51 +0000

WASHINGTON – The Consumer Financial Protection Bureau has issued new rules designed to boost high-cost mortgage borrowers’ protections and provide them with better information and resources.

“Addressing problems in the mortgage market is critical to helping our economy recover,” said CFPB Director Richard Cordray in a statement announcing the rules
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CFPB, FTC join to target deceptive mortgage ads

Kimberly Atkins — Tue, 27 Nov 2012 17:26:00 +0000

WASHINGTON – Two federal agencies have joined together to beef up investigations and enforcement actions against companies who engage in fraudulent advertising under the Mortgage Acts and Practices Advertising Rule and the Federal Trade Commission Act.

Officials from the Consumer Financial Protection Bureau and the FTC have combed through more
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Lawyers to face CFPB oversight for debt collection

Correy Stephenson — Thu, 08 Nov 2012 20:53:22 +0000

Some lawyers engaging in debt collection will now be supervised by the Consumer Financial Protection Bureau pursuant to a new rule promulgated by the agency.

It will be the first time lawyers are subject to oversight by a federal agency.

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New federal study makes case for student loan relief

Pat Murphy — Fri, 03 Aug 2012 15:34:55 +0000

A new federal study recommends changes in consumer protection and bankruptcy law to provide relief for those Americans saddled with a share of the country’s $1 trillion in student loan debt, largely blaming private lenders for the problem.

“Too many student
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CFPB’s first civil complaint aimed at law firm

Kimberly Atkins — Thu, 02 Aug 2012 14:50:36 +0000

WASHINGTON – In its first ever civil enforcement action, the Consumer Financial Protection Bureau has charged a law firm with bilking clients who sought help with their mortgage payment plans to avoid losing their homes.

In the complaint, the Bureau charged
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CFPB proposes new mortgage disclosures rules

Margaret Wallis — Tue, 24 Jul 2012 18:54:59 +0000

WASHINGTON – In an extension of its “Know Before You Owe” mortgage project, the Consumer Financial Protection Bureau has proposed new requirements for mortgage disclosure forms.

The proposed new “Loan Estimate” and “Closing Disclosure” forms present the costs and
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Several groups file suit challenging CFPB’s authority

Kimberly Atkins — Fri, 22 Jun 2012 12:29:37 +0000

WASHINGTON – Several organizations have filed a federal lawsuit challenging the constitutionality of the provisions of the Dodd-Frank financial reform law that created a consumer watchdog agency with broad authority to regulate mortgages, credit cards and other consumer financial products from
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