WASHINGTON — Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out. The rules being unveiled Thursday by the Consumer Financial Protection Bureau impose a ...

Tagged with: Consumer Financial Protection Bureau federal regulators

Some lawyers engaging in debt collection will now be supervised by the Consumer Financial Protection Bureau pursuant to a new rule promulgated by the agency. It will be the first time lawyers are subject to oversight by a federal agency. ...

Tagged with: Consumer Financial Protection Bureau Debt collection oversight

WASHINGTON —  A new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far.   In the 14 months ...

Tagged with: Consumer Financial Protection Bureau

WASHINGTON — The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments.   Mortgage servicing companies would be required to provide clear monthly ...

Tagged with: Consumer Financial Protection Bureau

In an extension of its “Know Before You Owe” mortgage project, the Consumer Financial Protection Bureau has proposed new requirements for mortgage disclosure forms. The proposed new “Loan Estimate” and “Closing Disclosure” forms present the costs and risks of loans ...

Tagged with: Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau has proposed a rule to include large debt collectors and consumer credit reporting agencies under its nonbank supervision program, pursuant to the powers it was given by the Dodd-Frank Wall Street Reform and Consumer Protection ...

Tagged with: Consumer Financial Protection Bureau

WASHINGTON — The battle over the future of a new financial watchdog office escalated Thursday with Senate Republicans blocking confirmation of the man President Barack Obama named to head the office and Obama countering by holding out the possibility of ...

Tagged with: Consumer Financial Protection Bureau Senate

The newly operational Consumer Financial Protection Bureau has issued its first interim rule which it says will fill a regulatory gap in the mortgage industry. The new rule, published in the Federal Register, allows state-chartered mortgage lenders ...

Tagged with: Consumer Financial Protection Bureau

The long awaited Consumer Financial Protection Bureau officially opened its doors on Thursday, although without a confirmed director and with potentially diminished powers as a result of a House of Representatives bill to weaken the agency (HR 1315).

Tagged with: Consumer Financial Protection Bureau House of Representatives

WASHINGTON — The new Consumer Financial Protection Bureau officially opens its doors Thursday with the House considering legislation that could restrict its authority to act against abuses of the financial system.

Tagged with: Consumer Financial Protection Bureau House of Representatives

WASHINGTON — President Barack Obama will introduce his choice to head the new Consumer Financial Protection Bureau on Monday in the White House Rose Garden. The president intends to nominate former Ohio Attorney General Richard Cordray.

Tagged with: Consumer Financial Protection Bureau nomination President Barack Obama