On March 22, 2021, the Consumer Financial Protection Bureau (CFPB) released its 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The CFPB’s annual report follows the Federal Trade Commission’s … [Continue reading] about What Do the CFPB’s and FTC’s 2020 Debt Collection Activity Forecast for 2021?
A&B ABstract: On April 1, 2021, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a Compliance Bulletin and Policy Guidance (the “Bulletin”) on the Bureau’s supervision and enforcement priorities with regard to housing … [Continue reading] about CFPB Issues Warning to Mortgage Servicing Industry
A&B ABstract: Three recent actions by the Consumer Financial Protection Bureau (“CFPB”), on consecutive days, highlights inconsistencies in the CFPB’s current approach to payday lending. Motion to Dismiss NALCAB Lawsuit On Monday, March 22, … [Continue reading] about Payday Lending: A Juxtaposition of Recent CFPB Actions
A&B ABstract: Without additional guidance, the recent statement from the Consumer Financial Protection Bureau (CFPB) about stimulus funds may create consumer confusion. CFPB Raises Concern About EIP Funds Reaching Consumers On March 17, 2021, … [Continue reading] about CFPB Issues Statement Encouraging Financial Institutions and Debt Collectors to Allow Stimulus Payments to Reach Consumers; Creates Potential Consumer Confusion
A&B ABstract: The CFPB must finalize its proposed QM delay rule in April, likely leaving no room for delay. Background on ATR/QM and the Delay Rule On March 3, 2021, the Bureau of Consumer Financial Protection (CFPB) released a notice of … [Continue reading] about Evaluating the CFPB’s Proposed Delay of the QM Rule: Timing Considerations