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Federal DC Court Overturns Closed-End Loan HMDA Reporting Threshold

CFPB Monitor

In April 2020, the CFPB issued a final HMDA rule increasing the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans from 25 covered loans originated in each of the prior two years to 100 covered loans originated in each of the prior two years.

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Employment Discrimination Class Action Filed Against CFPB

CFPB Monitor

District Court, District of Columbia, No. District Court, alleges violations of the 1866 Civil Rights Act, Title VII of the 1964 Civil Rights Act and the 1963 Equal Pay Act. House of Representatives initiated in 2014 and an Office of Inspector General (“OIG”) report from 2015. Mulvaney, U.S.

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CFPB Issues Interpretive Rule Clarifying that Sex Discrimination under ECOA and Regulation B Includes Sexual Orientation and Gender Identity Discrimination

CFPB Monitor

Under the leadership of Acting CFPB Director Dave Uejio, the Bureau issued an interpretive rule on March 9, 2021 clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (“ECOA”) and Regulation B includes sexual orientation and gender identity discrimination.

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Banking Regulation Predictions 2018:  U.S. Reform Takes Off

FICO

2017 was highlighted by a series of Executive Orders calling for comprehensive reviews of existing regulations, a series of reports issued by the U.S. Department of the Treasury accompanied by recommendations for significant regulatory reforms, and major changes in leadership (and vision) at many of the federal banking agencies.

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The CFPB Found Unconstitutional…But …

PYMNTS

The Consumer Finance Protection Bureau suffered a major blow in Federal Appeals Court yesterday when a three judge panel ruled that parts of its leadership structure are unconstitutional. Currently, the CFPB Director, who reports to the President, can only be removed for cause. ” In their ruling, the D.C.

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What’s Happening While We Wait for TCPA Reform?

FICO

The election of a new administration along with leadership changes at the Federal Communications Commission (FCC) provided new hope for a broad group of industry and nonprofit organizations who have long been advocating for changes to the Telephone Consumer Protection Act (TCPA). The action reflects an effort to target illegal robocalls.

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