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Consumer Financial Protection Bureau (CFPB) Self-Reporting

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

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As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Troutman Pepper

CFPB Releases Blog Post Favoring Use of Self-Reported Cash Flow Data in Credit Underwriting

Troutman Pepper on

On July 27, the Consumer Financial Protection Bureau (CFPB) released a new blog post, positing that cashflow data, broadly defined as the various inflows, outflows, and accumulated amounts in a consumer’s checking and savings...more

Hudson Cook, LLP

CFPB Bites of the Month - Q&A with Lucy Morris: Takeaways from 10 Years

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. With July 21, 2021 marking...more

Ballard Spahr LLP

CFPB announces advisory opinion program, updates responsible business conduct bulletin, proposes whistleblower legislation

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At the end of last week, the CFPB announced that it was taking three steps consisting of implementing an advisory opinion program, updating its responsible business conduct bulletin, and proposing an award program for...more

ArentFox Schiff

Self-Reporting, TRID, and CFPB

ArentFox Schiff on

On July 11, 2019, I presented at the American Bankers Association webinar, entitled, “Mortgage Disclosure Cures and Corrections — Mitigating Liability.” Below is a summary of the points presented in the webinar and additional...more

Goodwin

Financial Services Weekly News - September 2017 #3

Goodwin on

Editor's Note - Cybersecurity Returns to Center Stage. The Equifax breach and recent news that the Securities and Exchange Commission’s (SEC) EDGAR test filing system was hacked in 2016 have brought cybersecurity back to...more

Goodwin

Financial Services Weekly News - August 2016 #2

Goodwin on

Editor's Note - OATS Reporting Violations and FINRA Enforcement. FINRA’s Order Audit Trail System (OATS), is an integrated audit trail of order, quote and trade information for all NMS stocks and OTC equity securities,...more

Carlton Fields

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

Carlton Fields on

IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance ...more

Stinson LLP

CFPB Issues RESPA and Marketing Services Agreements Compliance Bulletin

Stinson LLP on

On October 8, 2015, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin concerning marketing services agreements (MSAs) under the Real Estate Settlement Procedures Act (RESPA). RESPA - RESPA...more

Ballard Spahr LLP

FHA Issues Mortgagee Letter Clarifying Lender Self-Reporting Requirements

Ballard Spahr LLP on

Possibly in response to the CFPB's recent emphasis on self-reporting, FHA issued Mortgagee Letter 2013-41 last week, which clarifies the self-reporting requirements for Single Family FHA-approved lenders. Ballard Spahr has...more

Ballard Spahr LLP

Peggy Twohig of CFPB clarifies its expectations about self-reporting violations of law

Ballard Spahr LLP on

My colleagues, Chris Willis and Barbara Mishkin, have previously blogged here and here about the CFPB’s recent guidance advising banks and non-banks subject to its jurisdiction to investigate and self-report to the Bureau...more

Brownstein Hyatt Farber Schreck

CFPB Offers Potential Benefits If You Turn Yourself In, But Make Sure You Understand Your Options

Brownstein Hyatt Farber Schreck’s past Client Alerts have warned that the Consumer Financial Protection Bureau’s reach touches virtually every company that has any interaction with consumers. A recent Bulletin issued by the...more

Morrison & Foerster LLP

How to Be a Good Corporate Citizen CFPB Style

On June 25, 2013, the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2013-06 identifying “responsible business conduct” that may impact the exercise of its “enforcement discretion.” The Bulletin specifies the...more

Stinson - Corporate & Securities Law Blog

CFPB Encourages Self-Policing And Self-Reporting

The CFPB has issued a bulletin encouraging self-policing, self-reporting, remediation, and cooperation....more

Davis Wright Tremaine LLP

“Responsible Conduct” by Enforcement Targets May Justify Favorable Treatment

Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued CFPB Bulletin 2013-06 (the Bulletin), entitled Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation....more

Ballard Spahr LLP

CFPB issues guidance on “responsible conduct” that can result in enforcement leniency

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A new CFPB Bulletin provides guidance on “responsible conduct” the CFPB will consider in deciding how to exercise its enforcement discretion....more

Ballard Spahr LLP

“Responsible Conduct”: a welcome statement, but with two serious problems

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On June 25, 2013, the CFPB released a Bulletin to describe the sorts of “responsible conduct” that might lead it to be more lenient in the context of an enforcement investigation....more

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