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Consumer Financial Protection Bureau (CFPB) Applications

Dechert LLP

Department of the Treasury’s CDFI Fund Releases Revised Certification Application

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The U.S. Department of the Treasury’s Community Development Financial Institutions Fund released an updated Community Development Financial Institution (CDFI) Certification Application (Application). This updated...more

Bradley Arant Boult Cummings LLP

Creditors Should Review Their Use of Immigration Status When Accepting and Evaluating Applications

On October 12, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) issued a joint statement emphasizing the risk associated with considering an applicant’s immigration status when making credit...more

Bradley Arant Boult Cummings LLP

CFPB Issues No-Action Letter Template for an Online Loss Mitigation Platform

On May 22, 2020, the CFPB issued a No-Action Letter (NAL) Template to a software company utilizing an internet-based platform for submission and processing of loss mitigation applications. Mortgage servicers may use the NAL...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Ballard Spahr LLP

CFPB Makes Changes to Advisory Committee Charters and is Accepting New Membership Applications

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The CFPB has announced a number of changes to its advisory committee charters, publishing notices in the Federal Register on March 22 pertaining to each advisory committee: the Consumer Advisory Board (CAB), Community Bank...more

Morrison & Foerster LLP

CFPB Brings First Enforcement Action Involving Deferred Interest Products, Imposes Novel and Burdensome Application Requirements...

Morrison & Foerster LLP on

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more

Foley & Lardner LLP

As the CFPB Turns … And Other Consumer Financial Services News

Foley & Lardner LLP on

In this week’s episode of As the CFPB Turns questions remain regarding Director(?) Richard Cordray’s constitutional authority to act as the Director of the CFPB. House Financial Services Committee Chairman, Jeb Hensarling,...more

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