The CFPB released its Winter 2017 Supervisory Highlights recently, detailing issues currently on the bureau’s radar, as well as enforcement trends credit unions should be mindful of, most notably UDAAP in auto loan servicing, mortgage servicing and deposits.
The CFPB released a new Elder Financial Exploitation report this month, based on data obtained from Suspicious Activity Reports filed between 2013 and 2017. It will conduct a webinar April 9 highlighting the findings of the report.
The CFPB announced Thursday amendments to its advisory committee charters, which include the Credit Union Advisory Council, and also announced it will begin accepting applications for new council members soon.
The CFPB indicated in its report on administration of the Fair Debt Collection Practices Act that it intends to issue a proposed rule on debt collection that will address communications practices and consumer disclosures relating to the collecting of debts.
CUNA supports supposed the proposed delay of the compliance date for the Consumer Financial Protection Bureau’s payday lending rule, but also supports a delay of the entire rule, it wrote to the CFPB Monday.
Credit unions support consumer protections, CUNA President/CEO Jim Nussle wrote to the Senate Banking Committee, but the CFPB’s early years are marked with repeated missed opportunities to leverage credit unions’ history of consumer benefits.