CFPB INTERIM FINAL RULE REGARDING EVICTION MORATORIUM
Category: CFPB, Fair Debt Collection Practices Act, Regulation F
Nearly 9 million households are behind on their rental payments. Tens of thousands of renters are being evicted every week, often without being told of their rights under the CDC moratorium. As the CDC has found, tenants who are evicted may end up homeless or in crowded or shared living settings, increasing their vulnerability to COVID-19 and the risk of the disease spreading throughout communities. Such evictions can have long-term health, financial, and social consequences
CFPB SMALL ENTITY COMPLIANCE GUIDE FOR DEBT COLLECTION
Category: CFPB, Fair Debt Collection Practices Act, Regulation F
The CFPB has updated its Small Entity Compliance Guide for the Debt Collection Rule (Regulation F) to add the vastly expanded requirements of the December 2020 Final Rules.The CFPB recently issued a proposed revision to Regulation F to delay the effective date from November 30, 2021 to January 29, 2022.
On April 1, 2021, FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) requesting comments on new beneficial ownership reporting provisions included in the Corporate Transparency Act/Anti-Money Laundering Act of 2020, which was passed into law as part of the National Defense Authorization Act of 2021 on January 1, 2021. The ANPRM, published in the Federal Register on April 5, 2021, is requesting input on procedures and standards for reporting companies to submit information to
CFPB PROPOSES DELAY OF THE FDCPA RULES
Category: CFPB, Fair Debt Collection Practices Act, Regulation F
On April 7, 2021, the Consumer Financial Protection Bureau (CFPB) proposed to extend the effective dates for two recent final rules amending Regulation F from November 30, 2021 until January 29, 2022. The comment period ends 30 days after the proposed rule is published in the Federal Register.
On April 5, 2021, the Consumer Financial Protection Bureau (CFPB) proposed changes to Regulation X to assist borrowers affected by the COVID-19 emergency. The CFPB is taking this action to:Help ensure that borrowers impacted by the COVID-19 pandemic have an opportunity to be evaluated for loss mitigation before the initiation of foreclosure.Establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, 2021, for principal residencesTemporarily permit mortgage servicers to offer certain loan modifications made
Why we blog . . .
The ever-changing laws, regulations, proposals, deadlines, and guidance are a lot for anyone to manage and keep up with so let us do the work for you. Our blog is designed to help compliance professionals by releasing updates as soon as the news breaks. Our Compliance Resource team is researching, following, and monitoring government agencies and regulators to give you all the latest and greatest compliance news. Our goal is to work harder so you don’t have to.