Newsroom

The CFPB’s Deputy Director submits this CFPB comment to the Illinois Joint Committee on the state’s proposed community reinvestment rules, specifically in support of provisions addressing appraisal bias.

FFIEC Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

The Consumer Financial Protection Bureau and Department of Justice (collectively, the agencies) jointly issue this statement to assist creditors and borrowers in understanding the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).

Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals.

Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

Agencias federales solicitan comentarios públicos sobre directrices para reconsideraciones sobre el valor de transacciones de bienes raíces residenciales.

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding the final report of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE).

Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it continued to engage in illegal and deceptive marketing in violation of a 2016 CFPB order. The lawsuit also accuses LendUp of violating fair lending regulations.

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued the following statement: Earlier today, the U.S. Department of Housing and Urban Development released guidance clarifying that special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.

Acting Director Dave Uejio remarks at the National Fair Housing Alliance’s Virtual Forum on Special Purpose Credit Programs.

The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related federal emergency mortgage protections expire this summer and fall. Servicers should dedicate sufficient resources and staff now to ensure they are prepared for a surge in borrowers needing help. The CFPB will closely monitor how servicers engage with borrowers, respond to borrower requests, and process applications for loss mitigation. The CFPB will consider a servicer’s overall effectiveness in helping consumers when using its discretion to address compliance issues that arise.

On March 9, 2021, the Consumer Financial Protection Bureau issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gender identity discrimination.

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.

The Consumer Financial Protection Bureau released its Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act governing small business lending data collection and reporting.

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

Chairman Crapo, Ranking Member Brown, and Members of the Committee, thank you for this opportunity to provide you with an update on the CFPB’s important work. I appear before you as the country is engaged in a national conversation on racial inequality and confronting the unprecedented pandemic.

The Consumer Financial Protection Bureau issued a request for information to seek public input on how best to create a regulatory environment that expands access to credit.

The Consumer Financial Protection Bureau (Bureau) took steps to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic.

The Consumer Financial Protection Bureau announced today that its first symposium will be held on June 25 at 9 am.

Consumer Financial Protection Bureau Director Kathleen L. Kraninger announced a symposium series exploring consumer protections in today’s dynamic financial services marketplace.

Today the President signed into law a bipartisan Congressional resolution disapproving a rule that was in the form of guidance issued by the Bureau of Consumer Financial Protection (Bureau) about indirect auto lender compliance with the Equal Credit Opportunity Act (ECOA) and its implementing regulation.

Bureau Also Seeks Public Comment on Proposal for Disclosure of Mortgage Data.

Consumers Harmed By Inferior Card Terms, Including Higher Interest Rates, Stricter Credit Cutoffs, and Less Debt Forgiveness, Receive Over $95 Million in Redress.

Proposed Rule Would Also Aid in Adoption of New Forms.