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CFPB Resource Center

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which passed on July 21, 2010, created the Consumer Financial Protection Bureau (CFPB). Among other things, Congress gave the CFPB the authority to: (1) write rules, supervise certain financial services companies, and enforce federal consumer financial protection laws; (2) restrict unfair, deceptive, or abusive acts or practices; (3) collect and track consumer complaints; (4) promote financial education; (5) research consumer behavior and awareness, as well as developments in markets for consumer financial products and services; and (6) monitor financial markets.

To help its members keep track of the CFPB’s actions, AFSA has created a resource center with updates all in one place.

AFSA is in the process of transitioning this space to better serve our members. Please pardon our dust as create the CFPB Resource Center.

CFPB Public Affairs

Blog Posts, Consumer Advisories, Press Releases, Amicus Briefs and Reports

Latest Developments

CFPB tweaks mortgage rules
The Hill 10/22/2014
The Consumer Financial Protection Bureau (CFPB) said Wednesday that it has finished tweaking some mortgage rules to ensure access to credit. The minor adjustments, which were proposed in April, include two changes aimed at helping certain nonprofit ...

CFPB's Loan Report Attacks Lenders Rather Than Empowering Students
Forbes 10/21/2014
The Consumer Financial Protection Bureau's (CFPB) recent annual student loan ombudsman report aims to help those falling behind with private lenders. However, its reactive approach would simply stifle flames rather than prevent their initial burst by ...

Flagstar Bank to pay $37.5 million over servicing violations: CFPB
Reuters 09/29/2014
Consumer Financial Protection Bureau Director Richard Cordray testifies before House Financial Services Oversight and Investigations Subcommittee hearing on ''Allegations of Discrimination and Retaliation and the CFPB Management Culture'' on Capitol ...

U.S. Bank refunding $48 million to customers
CNNMoney 09/25/2014
The bank, which is the fifth largest in the country, was ordered to refund customers $48 million Thursday as part of the Consumer Financial Protection Bureau's crackdown on deceptive banking practices. It must also pay a $5 million penalty to the CFPB ...

The U.S. Consumer Financial Protection Bureau Is Collecting Massive Amounts ...
Forbes 09/25/2014
Ironically, an agency that Congress created to protect consumers has been collecting an unprecedented amount of personal information about the very consumers it was tasked with protecting. Since its creation, the Consumer Financial Protection Bureau ...

GAO: CFPB Should Take Steps to Protect Consumer Data Collected From Banks
Wall Street Journal 09/22/2014
The Government Accountability Office said the Consumer Financial Protection Bureau lacks written procedures for protecting data and needs to beef up its information security practices, sounding a similar warning to lawmakers and business groups who ...

CFPB proposes rule to supervise large auto finance companies
Washington Post 09/17/2014
The Consumer Financial Protection Bureau on Wednesday proposed bringing the financing units of the big automakers under federal supervision for the first time, a move that would ultimately let the agency examine the lending arms of Toyota, Ford and ...

Recent Events
Rulemaking
AFSA Comment Letter on CFPB Proposed Arbitration Survey
AFSA Comment Letter on Consumer Credit Extended to Service Members
Joint Trade Letter Seeks Guidance and Clarity on Disparate Impact and Dodd-Frank Mortgage Standards
AFSA Comment Letter to FHFA on Lender Placed Insurance
AFSA Comment Letter to CFPB on Financial Products Marketed to College Students
Joint Trade Letter to CFPB on Testing New Mortgage Disclosures
AFSA Comment Letter to the CFPB on the Impact of the CARD Act
Comment Letter to CFPB on Regulation B Proposed Appraisal Rule
Joint Trade Letter on Appraisals and Higher-Risk Mortgages
AFSA Comment Letter on CFPB Proposed Credit Card Rule
AFSA Comment Letter to FCC
AFSA Comment Letter to CFPB on RESPA & TILA Disclosures
AFSA Comment Letter to CFPB on Proposed Mortgage Servicing Rules
AFSA Comment Letter on Assessments to Fund Office of Financial Research
Joint Letter to CFPB on QM Safe Harbor
Joint Trade Letter on Lease Accounting Proposal
AFSA Comment Letter on HOEPA Rule and Finance Charge Definition
Joint Letter to CFPB on Information Quality Standards
AFSA Comment Letter on the CFPB’s Supervision Rules
AFSA Comment Letter to the CFPB on the Disclosure of Consumer Complaint Data
Joint Trade Letter to CFPB on Confidential Treatment of Privileged Information.
AFSA Comment Letter to CFPB on Confidential Treatment of Privileged Information.
AFSA Comment Letter to CFPB on Larger Participants
CFPB Supervision and Enforcement

Consent Orders and Complaints, Petitions to modify CIDs, Exam Manuals, Notices, Guidance, Rules, and Information Collection

The CFPB & Congress
  • H.R. 5062: to amend the Consumer Financial Protection Act of 2010 to specify that priviledge and confidentiality are maintained when information is shared by certain nondepository covered persons with Federal and State financial regulators, and for other purposes.
  • H.R. 5403: to nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending.
  • H.R. ___: to amend the Fair Credit Reporting Act to improve the consumer reporting system, and for other purposes.
  • H.R. 5405: to make technical corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act, to enhance the ability of small and emerging growth companies to access capital through public and private markets, to reduce regulatory burdens, and for other purposes.
  • Rep. Carolyn Maloney (D-NY) Sept. 10 letter on checking account overdraft practices.
 
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