Description: This CFPB circular states that creditors may not rely on the checklist of reasons provided in the sample forms (currently codified in Regulation B) to satisfy their obligations under ECOA if those reasons do not
specifically and accurately indicate the principal reason(s) for the adverse action. Nor, as a general matter, may creditors rely on overly broad or vague reasons to the extent that they obscure the specific and accurate reasons relied upon.
This CFPB circular states that is is an unfair practice for a financial institution, after the consumer closes a deposit account, to unilaterally reopen the account and process a deposit or debit.
Description: This CFPB circular states that negative option marketing practices may be unfair, deceptive, or abusive where a seller (1) misrepresents or fails to clearly and conspicuously disclose the material terms of a negative option program; (2) fails to obtain consumers’ informed consent; or (3) misleads consumers who want to cancel, erects unreasonable barriers to cancellation, or fails to honor cancellation requests that comply with its promised cancellation procedures.
This is the Federal Register notice, 87 Fed, Reg. 20771 (April 1, 2022) for a proposed CFPB rule under Regulation V regarding Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking. The request for comment is on a FCRA rule that assists consumers who are victims of trafficking.
This is a federal. interagency interpretation of FDCPA Regulation F, issued in December of 2022, interpreting the various provisions of CFPB Reg. F. It is found on the CFPB website at https://files.consumerfinance.gov/f/documents/cfpb_fair-debt-collection-practices-act-fdcpa-procedures_2022-12.pdf.
Since the enactment of the CFPA, government enforcers and supervisory agencies have taken dozens of actions to condemn prohibited abusive conduct. The CFPB is issuing this Policy Statement to summarize those actions and explain how the CFPB analyzes the elements of abusiveness through relevant examples, with the goal of providing an analytical framework to fellow government enforcers and to the market for how to identify violative acts or practices.
The Consumer Financial Protection Bureau (CFPB or Bureau) is issuing an interim final rule amending Regulation Z, which implements the Truth in Lending Act (TILA), to reflect the enactment of the Adjustable Interest Rate (LIBOR) Act (the LIBOR Act or Act) and its implementing regulation promulgated by the Board of Governors of the Federal Reserve System (Board). This interim final rule further addresses the planned cessation of most U.S. Dollar (USD) LIBOR tenors after June 30, 2023, by incorporating the Board- selected benchmark replacement for consumer loans into Regulation Z.
After considering public comments, the Consumer Financial Protection Bureau (CFPB) has determined that commercial financing disclosure laws in California, New York, Utah, and Virginia are not preempted by the Truth in Lending Act.
This is a prior version of Regulation X, effective until January 10, 2014.
The Consumer Financial Protection Bureau (CFPB or Bureau) is conducting a review of Regulation Z's Mortgage Loan Originator Rules (Loan Originator Rules) pursuant to section 610 of the Regulatory Flexibility Act. Regulation Z, which implements the Truth in Lending Act (TILA), among other things, imposes certain requirements on: loan originator compensation; qualification of, and registration or licensing of, loan originators; compliance procedures for depository institutions; mandatory arbitration; and the financing of single premium credit insurance.