Consumer Financial Protection Bureau (CFPB) Director Richard Cordray appeared before the U.S. Senate Committee on Banking, Housing and Urban Affairs on Wednesday, July 15, 2015. Many of the Committee’s questions and comments focused on whether the CFPB should undergo structural changes. Specifically, committee members discussed whether the CFPB should be subjected to the Congressional appropriations
CFPB Postpones TRID Implementation Date from August 1 to October 1, 2015
In welcome news to the industry, the Consumer Financial Protection Bureau (CFPB) announced on June 17, 2015 that it will delay the effective date of TRID (the TILA-RESPA Integrated Disclosure rule) until October 1, 2015. Director Richard Cordray announced the CFPB’s intent to issue a proposed rule change to delay the effective date, with opportunity
CFPB Announces Student Loan “Inquiry”
CFPB Director Richard Cordray announced the commencement of a CFPB “public inquiry” into the hurdles that make repayment of student loans a “stressful process and even at times a harmful one.” Speaking in Milwaukee, Wisconsin today at a field hearing on student loan servicing, Cordray noted that the purpose of the Request for Information (RFI)