Friday, February 27, 2015
Servicing's Dubious Distinction: Most Mortgage Complaints to CFPB
Problems related to loan servicing dominate the consumer complaints about mortgage companies made to the Consumer Financial Protection Bureau, but an agency official expressed optimism about the industry's response to these grievances.
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During an unusually aggressive bout of questioning for Yellen, particularly from a lawmaker generally regarded as supportive of the Fed chair, Warren questioned comments made by Fed General Counsel Scott Alvarez last year raising concerns with aspects of the financial reform law. more »
NAFCU is urging NCUA to outline its overarching approach to risk mitigation in the CU system, in light of several recent moves the agency has made or has indicated it will be tackling in the near future. more »
WASHINGTON — NCUA isn't the only one looking at how redefining "small" as way to provide regulatory relief. more »
WASHINGTON — The Consumer Financial Protection Bureau will continue its work to ensure credit reports are fair and freely given to consumers, agency director Richard Cordray said Thursday. more »
CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had. more »
NEWPORT BEACH, Calif. — The National Association of Credit Union Service Organizations says NCUA is in the wrong for asking Congress to expand the federal credit union regulator's authority over CUSOs and vendors that do business with CUs. more »
NCUA approved a proposed rule that would raise the asset ceiling for its definition of a "small entity" credit union by $50 million to $100 million. more »
The Ohio Department of Commerce announced that Robert W. Rutkowski has been named deputy superintendent for credit unions. Rutkowski will begin serving his new post Feb. 23. more »
Sen. Elizabeth Warren said small financial institutions have continued to be profitable despite new rules under the Dodd-Frank Act while raising fresh warnings about unnecessary changes to the financial reform law in the guise of regulatory relief. more »
In unusually expansive comments, Consumer Financial Protection Bureau Director Richard Cordray provided new details Tuesday about proposals due soon from the agency while offering insights into an internal battle over easing a key mortgage rule. more »
The Senate Banking Committee's first look at regulatory relief for small institutions provided key insights into how the panel is likely to tackle the topic legislatively this year, suggesting it could be a long and contentious debate. more »
WASHINGTON — U.S. Sens. Jerry Moran (R-Kan.) and Heidi Heitkamp (D-N.D) have introduced a bill aimed at alleviating the regulatory burden related to privacy notices. more »
The creation of a new cybersecurity agency is the latest move by the Obama Administration to combat the increasing threat of cyber-attacks. more »
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