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CFPB

NCRC Initial Analysis of the CFPB SBREFA Panel Outline: A Step in the Right Direction but Improvements Sought

By / / Views / 19 minutes of reading

The CFPB’s initial proposals for the small business lending data take some steps in the right direction such as including a broad range of institutions from banks to non-bank financial technology companies that would be required to report data. However, some proposals would keep lending activity in the dark such as the proposal to not report Merchant Cash Advances, a form of credit that is higher cost and has been subject to abuses. 

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Joint Comment: Final Qualified Mortgage (QM) Rule Must Effectively Protect Consumers and Promote Access to Responsible Mortgage Credit

By / / Testimony & Regulatory Comments / 2 minutes of reading

(Download) Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB’s) qualified mortgage (QM) proposed rule. Given CFPB’s decision to end the GSE patch, we believe that a price-based approach is an appropriate and effective method to determine QM status. However, additional safeguards are necessary to ensure that the final rule

Joint Comment: Final Qualified Mortgage (QM) Rule Must Effectively Protect Consumers and Promote Access to Responsible Mortgage Credit Read More »

FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter

By / / Testimony & Regulatory Comments / 6 minutes of reading

August 10, 2020 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Hugh Frater CEO Fannie Mae Midtown Center 1100 15th Street, NW Washington, DC 20005 David Brickman CEO Freddie Mac 1551 Park Run Drive Mclean, VA 22102 Dear Director Calabria, Executives Frater and Brickman: We are writing

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COVID-19 and the CFPB Consumer Complaint Database

By / / Views / 8 minutes of reading

Local businesses are devastated and state agencies overwhelmed as people stay at home to preserve their health and apply for government assistance to maintain financial solvency. An unexpected side effect of this was a simultaneous increase in consumer complaints filed with the Consumer Finance Protection Bureau (CFPB).

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Preliminary Analysis of 2019 HMDA Mortgage Lending Data

By / / Research / 10 minutes of reading

The Consumer Financial Protection Bureau (CFPB) released the 2019 Home Mortgage Disclosure Act (HMDA) data on June 24, 2020, detailing mortgage lending information from nearly all lenders in the United States. HMDA offers details on 9.3 million originations resulting from over 17.5 million applications.

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NCRC statement on Supreme Court Consumer Financial Protection Bureau ruling

By / / Press Releases / 3 minutes of reading

Today, the Supreme Court ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling ended what was supposed to be the director’s total independence from the president, by giving the president the authority to fire the director at will.

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