The Consumer Financial Protection Bureau (CFPB) recently issued a new procedural rule to streamline how it determines which nondepository institutions it has the authority to supervise. According to the CFPB, the new rule...more
Last week, the U.S. Chamber of Commerce (Chamber) joined five other trade associations to sue the Consumer Financial Protection Bureau (CFPB) and its director Rohit Chopra in Texas Federal District Court, seeking a court...more
Welcome to the Mortgage Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Enforcement efforts are expected to increase in 2024 and will...more
In October 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule intended to encourage “open banking”. “Open banking” is a practice of sharing, with consent, consumers’ banking and financial data...more
11/9/2023
/ APIs ,
Banks ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Data-Sharing ,
Financial Institutions ,
Financial Services Industry ,
NPRM ,
Open Banking ,
Personal Data ,
Proposed Rules
On September 7, 2023, the Consumer Financial Protection Bureau (CFPB) published its analysis of how smartphone companies are affecting consumers’ use of so-called “tap-to-pay” technology – the wireless transfer of data...more
9/11/2023
/ Apple Pay ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Wallets ,
Google ,
iPhone ,
Mobile Devices ,
Payment Systems ,
Personal Information ,
Regulatory Agenda ,
Sensitive Personal Information ,
Wireless Devices
On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing.
PACE financing is...more
5/5/2023
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
Financing ,
Homeowners ,
Loan Applications ,
Loans ,
Mortgages ,
Proposed Rules ,
Regulation Z ,
Tax Liens ,
Truth in Lending Act (TILA)