Archive

EGRRCPA PROTECTIONS FOR SERVICEMEMBERS

One year ago, the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) established several new protections for servicemembers and veterans, including: Holding lenders to more stringent requirements when they participate in VA’s refinance programs Ensuring continued foreclosure protections for servicemembers up to one year after they leave active duty Prohibiting medical debt that should have been paid by the VA to be reported as  part of a veteran’s credit history Providing free credit monitoring […]

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PROPOSED DEBT COLLECTION RULE

On May 7, 2019 the Consumer Financial Protection Bureau (CFPB) issued a proposed rule, contained in Regulation F, to implement the Fair Debt Collection Practices Act (FDCPA). The proposal establishes clear limits on the number of calls debt collectors may place to reach consumers on a weekly basis; clarifies how collectors may communicate lawfully using newer technologies, such as voicemail, email and text messages, that have developed since the FDCPA’s passage in 1977; and requires […]

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PROPOSED HMDA CHANGES

On May 2, 2019 the Consumer Financial Protection Bureau (CFPB) published a Notice of Proposed Rulemaking (NPRM), an Advanced Notice of Proposed Rulemaking (ANPR) and other items related to changes to Regulation C, which is the implementing regulation for the Home Mortgage Disclosure Act.  Notice of Proposed Rulemaking For closed-end mortgage loans, the NPRM proposes two alternatives that would permanently increase the coverage threshold from 25 to either 50 or 100 closed-end mortgage loans. For […]

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