CFPB Summaries
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Fees for Instantaneously Declined Transactions (NSF fees)
CFPB Summary re: Fees for Instantaneously Declined Transactions (NSF fees) 12 CFR Part 1042 The CFPB issued a proposed rule that would prohibit covered financial institutions from charging fees, such... -
Summary on the CFPB Proposed Rule on Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications
Summary re: CFPB Proposed Rule on Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications 12 CFR Part 1090 The Consumer Financial Protection Bureau (CFPB) proposes a... -
Consumer Information Requests to Large Banks and Credit Unions
CFPB Summary re: Consumer Information Requests to Large Banks/Credit Unions 12 CFR Chapter X The Consumer Financial Protection Bureau (CFPB) issued this Advisory Opinion regarding Section 1034(c) of the Consumer... -
Circular 2023-03: Adverse Action Notification Requirements and the proper use of the CFPB’s sample forms provided in Regulation B.
Consumer Financial Protection Bureau (CFPB) Summary re Consumer Financial Protection Circular 2023-03: Adverse Action Notification Requirements and the proper use of the CFPB’s sample forms provided in Regulation B. The... -
CFPB Summary: Interagency Proposal on Quality Control Standards for Automated Valuation Models
CFPB Summary re: Interagency proposal on quality control standards for automated valuation models The OCC, Board, FDIC, NCUA, CFPB, and FHFA invite comment on a proposed rule to implement the... -
CFPB Proposed Rule on Residential Property Assessed Clean Energy Financing (Regulation Z)
Summary re: CFPB Proposal on Residential Property Assessed Clean Energy Financing (Regulation Z) 12 CFR Part 1026 Section 307 of EGRRCPA (Economic Growth Regulatory Relief and Consumer Protection Act) directs... -
Circular 2023-02: Reopening Previously Closed Deposit Accounts
Summary of CFPB Circular 2023-02: Reopening Previously Closed Deposit Accounts May 2023 The Consumer Financial Protection Bureau (CFPB) issued Circular 2023-02 to make clear that financial institutions that unilaterally reopen... -
CFPB Advisory Opinion re: Fair Debt Collection Practices Act and Time Barred Debts
Summary of CFPB Advisory Opinion re: Fair Debt Collection Practices Act and Time-Barred Debts 12 CFR Part 1006 The Consumer Financial Protection Bureau (CFPB) issued this advisory opinion to affirm... -
CFPB Executive Summary of the Small Business Lending Rule
Summary re: CFPB Executive Summary of the Small Business Lending Rule Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to compile... -
CFPB Statement of Policy Regarding Prohibition on Abusive Acts or Practices
Summary: CFPB Statement of Policy Regarding Prohibition on Abusive Acts or Practices 12 CFR Chapter X The Consumer Financial Protection Act (CFPA) prohibits any “covered person” or “service provider” from... -
Request for Comment: Regulation Z Mortgage Loan Originator Rules Review Pursuant to the Regulatory Flexibility Act
Summary re: CFPB Review/Request for Comment: Regulation Z Mortgage Loan Originator Rules Review Pursuant to the Regulatory Flexibility Act 12 CFR Part 1026 The Consumer Financial Protection Bureau (CFPB) issued... -
Credit Card Penalty Fees Proposal
CFPB Summary re: Credit Card Penalty Fees Proposal 12 CFR Part 1026 The Consumer Financial Protection Bureau (CFPB) issues this proposal to amend Regulation Z, which implements the Truth in...