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Blog: Consumer Financial Protection Bureau

  • What is the "Consumer Financial Protection Bureau"?
  • What is the “Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act)?”
  • How is the Dodd-Frank Act related to the Consumer Financial Protection Bureau?
  • Does the Consumer Financial Protection Bureau affect your company--as a lender or servicer--or is your company exempt?

The purpose of this blog is to explain--in simple, straightforward, apolitical, digestible language--what the Consumer Financial Protection Bureau (“CFPB”) is, who it affects (in terms of which institutions are subject to its rules and oversight), what major rules the CFPB has rolled out since its creation a few years ago, and cases of interest filed by the CFPB.

To a lesser extent, I’ll also touch on the Dodd-Frank Act and its connection with the CFPB (it essentially created the CFPB). I'll provide a clearer understanding of the CFPB, its rules, who the rules apply to, and relevant cases filed by the CFPB. While this blog was created with lenders and servicers in mind as its primary audience, anyone looking for a better understanding of what the CFPB is and what it does should get something from this.

Links to posts:

1) Consumer Financial Protection Bureau 101

2) Changes to Mortgage Servicing Rules

3) Why the Flagstar Bank Case is Important

4) The Consumer Financial Protection Bureau's case against Corinthian Colleges

5) Corinthian Colleges:  Part Two - the "Perfect Storm"

6) The Consumer Financial Protection Bureau's cases against Sprint and Verizon for Mobile Cramming

7) The Consumer Financial Protection Bureau's new "Know Before You Owe" Mortgage Disclosure Rule

8) The Consumer Financial Protection Bureau's case against Citibank for violations relating to credit card add-on products

9) Countdown to TRID Implementation

10) Redlining and the joint action by the CFPB and the Department of Justice against Hudson City Savings Bank

11) The Consumer Financial Protection Bureau’s New Rule for Compliance with the Home Mortgage Disclosure Act

12) RESPA's Section 8(c)(2) Safe Harbor: Cutting Through the Constitutionality Haze in the Battle Between PHH Corporation and the Consumer Financial Protection Bureau

13) Redlining Action Against BancorpSouth: The Department of Justice and the Consumer Financial Protection Bureau Join Forces

14) Update on The CFPB’s Enforcement Case against Ocwen Financial Corporation

15) The CFPB's Enforcement Case against Ocwen Financial Corporation - 18 Month Checkup