Troutman Sanders

APRIL 26, 2022

On April 25, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it would begin invoking a provision in Dodd-Frank, previously used only infrequently, to conduct supervisory examinations over a greater number of nonbank financial companies that may “pose risks to consumers.”.

Student loans 105

Student loans Student Loans Loans Government 105

Troutman Sanders

MARCH 13, 2024

The Dodd-Frank Wall Street Reform and Consumer Protection Act required the CFPB to establish a consumer complaint system and to publish an annual report to Congress summarizing complaints received during the previous year. of all complaints.

Collections 52

Collections 52

Troutman Sanders

SEPTEMBER 19, 2023

The rule takes effect on January 1, 2024. For qualified mortgages (QMs) under the General QM loan definition in §1026.43(e)(2),

Manufacturing 52

Manufacturing Loans Consumer Credit Banks 52

Troutman Sanders

JULY 5, 2023

Other notable changes to the Final Rule: Principal owners’ sex and gender information must be collected from applicants using a free-form field without predefined response categories. Financial institutions are not required to report if data is reused.

Financial Institution 52

Financial Institution Credit Unions Credit Unions Lender 52

Troutman Sanders

OCTOBER 28, 2021

The updates reflect changes to the definition of a General QM loan and the addition of a new category of QM, Seasoned QM loans. The rules in question were issued by the Consumer Financial Protection Bureau (CFPB) in 2020 and 2021. The rule takes effect on January 1, 2022. For QMs under the General QM loan definition in Section 1026.43(e)(2),

Loans 52

Loans Credit Unions Credit Unions Consumer Credit 52

Collection Industry News

JUNE 13, 2022

Not only does the rule appear to waive important industry protections prior to allowing an AG to bring a direct federal consumer claim, it also states that AGs may now take enforcement action against certain industry participants who were successful in obtaining specific exemptions from enforcement during the negotiations of the Dodd-Frank Act.

Retail 40

Retail Manufacturing Trade Financial services 40

Collection Industry News

NOVEMBER 2, 2020

22, seeking comment on 46 questions in nine categories surrounding consumer access to financial information under section 1033 of the 2010 Dodd-Frank Act (15 U.S.C. The categories underscore the broad scope of section 1033 and the impact any rules could have on the consumer financial services industry.

Financial services 40

Financial services Credit Unions Credit Unions Lender 40