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CFPB proposes rule to ban ‘take-it-or-leave-it’ contract clausesMonday, January 13, 2025 The Consumer Financial Protection Bureau issued a proposed rule seeking to ban the use of certain legal waivers and fine print in financial contracts that have the effect of forcing consumers to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution. |
Dodd Frank Update launches ‘Data Privacy Vault’Friday, January 10, 2025 Dodd Frank Update is launching the “Data Privacy Vault” to hold all of our coverage of every volley in the ping-pong match between the finance industry and regulators over how to protect consumers’ sensitive data in the rapidly evolving virtual financial marketplace. |
![CFPB sues Vanderbilt Mortgage for alleged predatory lending practices](/Uploads/Public/New web BIG images/RN_Jenga.png/120/120/true/Image.ashx) CFPB sues Vanderbilt Mortgage for alleged predatory lending practicesFriday, January 10, 2025 The Consumer Financial Protection Bureau filed a lawsuit against Vanderbilt Mortgage & Finance, Inc., a subsidiary of Berkshire-Hathaway, accusing the nonbank company of predatory lending practices that set families up for financial failure when purchasing manufactured homes. |
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Scott, Warren set to lead Senate Banking Committee in new CongressFriday, January 10, 2025 The Senate Banking Committee will have a new leadership makeup in the next Congress. Sen. Tim Scott (R-S.C.) will move from the ranking member role to the chairmanship, and Sen. Elizabeth Warren (D-Mass.) will become the new committee’s new ranking member.
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![CFPB sues Vanderbilt Mortgage for alleged predatory lending practices](/Uploads/Public/New web BIG images/RN_Jenga.png/120/120/true/Image.ashx) CFPB sues Vanderbilt Mortgage for alleged predatory lending practicesFriday, January 10, 2025 The Consumer Financial Protection Bureau filed a lawsuit against Vanderbilt Mortgage & Finance, Inc., a subsidiary of Berkshire-Hathaway, accusing the nonbank company of predatory lending practices that set families up for financial failure when purchasing manufactured homes.
Court order stays BOI reporting requirementsFriday, January 10, 2025 The U.S. Treasury Department’s Financial Crimes Enforcement Network announced that reporting companies are not currently required to file beneficial ownership information in light of recent legal developments.
Regulatory Roundup: HMDA reporting window opens, FDIC publishes CRA resultsFriday, January 10, 2025 The window to file demographic information required under the Home Mortgage Disclosure Act has been opened and the current state of emergency in California caused banking regulators to address impacted institutions. Find details about these developments and more in this regulatory roundup.
CFPB finalizes rule banning medical debt from credit reportsTuesday, January 7, 2025 The Consumer Financial Protection Bureau issued a final rule to prohibit medical debt from being included on credit reports used by lenders to make credit determinations. The bureau estimated the new rule will clear approximately $49 million in medical bills from about 15 million Americans’ credit reports.
![FHFA, Treasury agree to process for ending GSE conservatorships](/Uploads/Public/New web BIG images/Financial Report-001.jpg/120/120/true/Image.ashx) FHFA, Treasury agree to process for ending GSE conservatorshipsTuesday, January 7, 2025 The Federal Housing Finance Agency and the U.S. Treasury Department took a significant step toward creating a path to ending the conservatorships of Fannie Mae and Freddie Mae with new amendments to the Preferred Stock Purchase Agreements.
Barr to step down as Fed vice chair for supervisionTuesday, January 7, 2025 Federal Reserve Vice Chair for Supervision Michael Barr announced his intent to step down from his vice chair role on Feb. 28, or once a successor is confirmed. The Fed indicated it does not intend to take up any major rulemakings until his successor is confirmed.
Trade groups name new executives, announce policy prioritiesTuesday, January 7, 2025 The new year means it is time for various industry trade groups to both look back at their activities and accomplishments from 2024 and set a new list of priorities for 2025. Multiple organizations representing banks and credit unions also announced new executive hires in the opening week of the year. Learn about some of these noteworthy moves and policy announcements in this roundup.
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