cfpb

The CFPB’s mortgage servicing rules proposal would eliminate existing processes and systems mortgage processors have used for years, inviting regulatory uncertainty and protections for bad actors. America’s Credit Unions Regulatory Advocacy Senior Counsel Amanda Smith filed those comments Monday with the CFPB in response to its proposed changes to mortgage servicing rules. “The proposed changes …

Proposed mortgage servicing rules would burden lenders, increase risk Read More »

The U.S. District Court for the Southern District of Texas has denied America’s Credit Unions’ motion for summary judgement to set aside the CFPB’s small business lending data collection rule. America’s Credit Unions, the Cornerstone League, and Rally Credit Union joined other organizations in filing the motion in March, requesting the rule be set aside …

Court denies credit union motion to set aside small biz lending data rule Read More »

The CFPB issued its 2025 Small Business Lending Filing Instructions Guide Friday. It updates compliance dates used in the filing instructions to correspond with the new compliance dates for the small business lending rule.  The CFPB issued an interim final rule in June extending compliance dates of the small business lending rule due to a …

CFPB issues updated guide for small business lending data rule Read More »

The CFPB ‘s proposal to exclude medical debt from credit reports should be issued as guidance instead. That’s the input submitted by America’s Credit Unions to the bureau Monday. Senior Regulatory Affairs Counsel James Akin noted that credit unions and other lenders need as complete a picture as possible when making lending decisions as they …

Medical debt proposal should be issued as guidance, lacks policy basis Read More »

Concerns with unsustainable burdens in negotiating mortgage closing cost fees on community-based mortgage lenders – including credit unions – is at the center of America’s Credit Unions’ letter to the CFPB sent Friday in response to the bureau’s request for information (RFI) regarding fees imposed in residential mortgage transactions.   “Credit unions have no influence on …

America’s Credit Unions provides credit union perspective on mortgage transaction fees for CFPB Read More »

In a letter to the CFPB sent Thursday, America’s Credit Unions strongly objected to the use of an interpretive rule rather than a proposed rulemaking with a standard notice and comment period.   America’s Credit Unions Senior Regulatory Affairs Counsel James Akin noted that while the organization supports the bureau’s efforts to bring regulatory consistency …

America’s Credit Unions urges CFPB to reissue Reg Z interpretive rule as a proposed rule Read More »

The Consumer Financial Protection Bureau Wednesday issued a circular to law enforcement agencies and regulators explaining how companies may be breaking the law by requiring employees to sign broad nondisclosure agreements that could deter whistleblowing. The circular explains how imposing sweeping nondisclosure agreements that do not clearly permit communication with law enforcement may intimidate employees …

CFPB issues circular on whistleblower protections under Dodd-Frank Read More »

The CFPB’s proposal to remove medical debt information from most credit reports would upend credit unions’ member-centric approach and prevent lenders from getting the full financial picture, America’s Credit Unions Head of Regulatory Advocacy Ann Petros wrote in CUInsight Tuesday. Petros said policies that directly contribute to incomplete credit reports will ultimately result in less …

Medical debt proposal would impact safe lending Read More »