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CFPB Summer 2020 Highlights looks at consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday lending

CFPB Monitor

The report discusses the Bureau’s examinations in the areas of consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday lending that were completed between September 2019 and December 2019. Fair lending. Payday lending. Key findings are described below. Consumer reporting.

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Connecticut federal court allows CFPB claims to proceed against mortgage company and principals for alleged licensing and other violations

CFPB Monitor

A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and Consumer Financial Protection Act (CFPA) violations.

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Growth Loops – The New Way To Grow Bank Product Sales

South State Correspondent

Here is a fun exercise – Ask a bank product team, “How do you grow customers?” Instead of thinking about how you can grow customers, the commercial lending team often thinks about increasing loans. When it first came out, many bankers laughed at the social media aspects of Venmo with its use of emojis.

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Virginia Community Banker: LinkedIn Has Business Development Potential

Independent Banker

When it comes to social media, Bruce Gemmill, senior vice president of John Marshall Bank in Reston, Va., Gemmill has been on the social site for about eight years and was invited by other colleagues to join up. Ann Chen ( ann.chen@icba.org ) is ICBA’s director, social media engagement. IB: Why LinkedIn?