CFPB Monitor

APRIL 29, 2015

The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation.

Lending 60

Lending Report Policies Compliance 60

Jeff For Banks

JUNE 20, 2017

The banking system is stable, which is critical to national and state economies. So what am I talking about, that deposit insurance is why banks don't do like FinTech lending firms and use alternatives to the FICO score in underwriting consumer credits? They have to find out later, after a bureaucrat in Washington does a white paper.

Data 60

Data FDIC Regulation Washington 60

CFPB Monitor

APRIL 7, 2020

Roddy discussed the emergency debt collection regulation issued by the Massachusetts AG and the possibility of state UDAP claims based on collection activities during the crisis. Another potential area of risk highlighted by Chris Willis was fair lending issues that could arise from the handling of modification and forbearance requests.

Massachusetts 78

Massachusetts Compliance Regulation Operations 78

CFPB Monitor

JULY 28, 2022

Because the issuance of such an interpretation would represent a significant change in the application of EFTA/Regulation E liability protections, we believe such a change should be the subject of notice-and-comment rulemaking procedures, either as an amendment to Regulation E or to the Official Staff Commentary, or both. .

Regulation 78

Regulation Lending Fraud Meeting 78

FICO

JANUARY 15, 2021

For example, during the Great Recession, the average national FICO® Score didn’t hit its lowest point until late 2009, well after the recession was underway. “In lending decisions (Mercator Advisory Group Analyst Report 2018). The FICO® Score is the industry standard in credit scoring, used in more than 90 percent of U.S.

Report 59

Report Payments Cards Data 59

CFPB Monitor

JULY 1, 2015

A recent American Banker article written by officials of three community groups urges President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small business lending data requirements of Dodd-Frank Section 1071.

Community 60

Community Lending Groups Data 60

CFPB Monitor

JULY 2, 2019

In April 2011, the CFPB issued guidance indicating that it would not enforce Section 1071 until it issued implementing regulations. In May 2017, the CFPB issued a RFI and a white paper on small business lending in conjunction with a field hearing on small business lending.

California 60

California Resources Community Lending 60