Search Results for agency_names:"Consumer Financial Protection Bureau"

The Consumer Financial Protection Bureau (CFPB) announced a public meeting for the Community Bank Advisory Council and the Credit Union Advisory Council, scheduled for February 12, 2025. This virtual meeting is open to the public and will discuss policy matters such as the Bureau's Unified Regulatory Agenda. Members of the public are encouraged to RSVP and may submit written comments in advance. The agenda and meeting details will be available on the CFPB's website, and a recording of the meeting will be posted afterward.

The Consumer Financial Protection Bureau (CFPB) is asking the public for feedback on how companies that provide financial services handle consumers' personal financial data. They want to understand how these companies collect, use, and share data from consumer payments. The information collected will help CFPB make decisions on whether to update regulations to better protect consumer privacy. Anyone interested can share their thoughts, and CFPB particularly wants to hear from consumers, advocates, researchers, and businesses by April 11, 2025.

The Consumer Financial Protection Bureau (CFPB) has issued a final rule to adjust civil penalty amounts for inflation, fulfilling the requirements under the Federal Civil Penalties Inflation Adjustment Act. These adjustments ensure that penalties continue to serve as a deterrent and encourage compliance with the law. The new penalty amounts will take effect on January 15, 2025, and apply to violations occurring after November 2, 2015. This rulemaking process does not require public notice or comment due to its technical nature and statutory obligations.

The Consumer Financial Protection Bureau (CFPB) has issued a policy statement introducing the Compliance Assistance Sandbox (CAS) program. This initiative aims to facilitate innovation while ensuring ethical standards, transparency, and competition in consumer financial markets. The CAS program offers companies "Approvals" that provide a safe harbor under federal consumer financial laws if they comply with specified terms. To receive these Approvals, companies must demonstrate that their products solve unmet consumer needs and adhere to strict conditions to prevent market manipulation and maintain fairness.

The Consumer Financial Protection Bureau (CFPB) has assessed that its proposed rule to implement consumer protections for Property Assessed Clean Energy (PACE) financing will not have a significant impact on the environment. PACE loans help finance home improvements like solar panels and energy efficiency projects. The proposed rule would require lenders to ensure borrowers can repay these loans, potentially reducing the number of loans issued. While some argue this could limit environmental benefits from such projects, the CFPB found the rule's effect on the environment would be minimal and does not necessitate a more extensive environmental review.

The Consumer Financial Protection Bureau (CFPB) has finalized changes to the regulation known as Regulation Z, which enforces the Truth in Lending Act (TILA). These updates adjust the dollar amounts tied to several loan thresholds, including those for high-cost mortgages, qualified mortgages, and credit card interest disclosures. The adjustments are based on the 3.4% increase in the Consumer Price Index (CPI) from April 2023 to April 2024 and will take effect on January 1, 2025. The changes ensure that the thresholds reflect current economic conditions, making it easier for consumers to understand loan costs and requirements.