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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.

CFPB Public Affairs

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

Latest Developments

New study slams CFPB methodology
Automotive News 11/19/2014
The statistical method the Consumer Financial Protection Bureau uses to identify which consumers belong to minority groups correctly identified African-American borrowers only 24 percent of the time. That was one of the findings of a nearly yearlong ...

Foreclosure rules would protect struggling homeowners, CFPB says
The Hill 11/20/2014
The Consumer Financial Protection Bureau (CFPB) is considering new foreclosure protections for homeowners who are struggling to make payments, the agency announced Thursday. “The Consumer Bureau is committed to ensuring that homeowners and ...

CFPB Orders 'Buy-Here, Pay-Here' Auto Dealer DriveTime To Pay $8M Penalty ...
The Consumerist 11/19/2014
The CFPB announced today that it has charged DriveTime Automotive Group Inc., an Arizona-based company that sells vehicles as well as originates and services auto loans, with harming customers by making harassing debt collection calls and providing ...

Report: 'Serious Control Deficiencies' at Consumer Financial Protection Bureau
The Weekly Standard (blog) 11/18/2014
The Consumer Financial Protection Bureau (CFPB), the 2007 brainchild of now-Senator Elizabeth Warren, was formed in 2010 as part of the Dodd-Frank Act. An annual audit by the Government Accountability Office (GAO) for the year ending September 30, ...

US consumer bureau proposes new rules for prepaid cards
Reuters 11/13/2014
The Consumer Financial Protection Bureau (CFPB) said consumers put nearly $65 billion into such accounts in 2012. Unlike checking accounts and other bank services, prepaid cards have not been not subject to rules that allow consumers to access account ...

Republicans Expected to Use New Majority Power to Push for CFPB Overhaul
DSNews.com 11/07/2014
Republican CFPB Reform The U.S. Midterm Elections have been over for less than a week, and already Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to make – the Consumer Financial ...

HUD Adopts CFPB Changes to Qualified Mortgage Rule
Reverse Mortgage Daily 11/05/2014
HUD's alignment to the CFPB's standards also included cross-references to the CFPB's list of transactions exempted from the qualified mortgage definition, including a nonprofit transaction exemption, and the CFPB's limit on points and fees for ...

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.
  • S. 2829: A bill to require certain financial regulators to determine whether new regulations or orders are duplicative or inconsistent with existing Federal regulations, and for other purposes.
  • Rep. Carolyn Maloney (D-NY) Sept. 10 letter on checking account overdraft practices.
  • House Finance Services Chairman Jeb Hensarling (R-TX) Sept. 17 letter on CFPB "disparate impact" methodolgy
  • Government Accountability Office September 2014 report, "CFPB: Some Privacy and Security Procedures for Data Collections Should Continue Being Enhanced"

 

 
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