On October 22, 2021 redlining hell broke loose. Trustmark – The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank. The CFPB and DOJ allege that Trustmark discriminated against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and […]
Tag: CFPB
CFPB KICKS ENFORCEMENT INTO HIGH GEAR
The Consumer Financial Protection Bureau (CFPB) will name Eric Halperin, a longtime consumer advocacy attorney and former official with the U.S. Department of Justice during the Barack Obama administration, to serve as its new enforcement director. This is according to original reporting at Bloomberg Law, based on conversations with internal CFPB sources who wished to remain unnamed. It is expected that Halperin will be appointed by CFPB Director Rohit Chopra in the coming days, according […]
USE OF 2020 CENSUS TRACT INFORMATION
Recently the CFPB reminded HMDA filers that when providing census tract information required by HMDA and Regulation C for calendar year 2022 applications and loans, financial institutions should use census tract information provided in the 2020 census. The FFIEC’s Geocoder will use 2020 census tract information beginning January 1, 2022.
CFPB GUIDANCE ON FDCPA AND REGULATION F
On October 1, 2021, the Consumer Financial Protection Bureau (CFPB) published a series of 27 Frequently Asked Questions covering the Fair Debt Collection Practices Act and Regulation F. Regulation F is effective on November 30, 2021.
SENATE CONFIRMS CHOPRA AS CFPB DIRECTOR
On September 30, nine months into the Biden administration, the U.S. Senate confirmed Rohit Chopra as the Director of the Consumer Financial Protection Bureau by a 50 – 48 vote.