- Mortgages: The CFPB released a proposal to amend Regulation C, which implements the HMDA in accordance with the Dodd-Frank Act’s amendments. Also, the CFPB is focused on supporting the implementation process for their rulemaking to consolidate and streamline federal mortgage disclosures required under TILA and RESPA.
- Prepaid cards: The CFPB released a proposal to create protections for prepaid financial products.
- Payday loans: The CFPB is considering what rules may be appropriate for addressing the sustained use of short-term, high-cost credit products.
- Defining larger participants: The CFPB is continuing rulemakings to implement their supervisory program for certain nonbank entities by defining “larger participants” in various markets for consumer financial products and services.
- Debt collection: The CFPB is developing a survey to obtain information from consumers about their experiences with debt collectors and is engaged in qualitative testing to determine what information would be useful for consumers to have about debt collection and how that information should be provided to them.
- Overdraft: The CFPB plans to release the results of further studies on overdraft programs and their effects on consumers. The CFPB is also considering whether rules governing overdraft and related services are warranted, and, if so, what types of rules would be appropriate. A possible rulemaking might include disclosures or address specific acts or practices.
- Privacy disclosures: A final rule was released in October 2014 which provides that financial institutions that restrict their information sharing practices and meet other requirements may post their annual privacy notices to customers under the Gramm-Leach-Bliley Act online, rather than delivering them individually.
Read the regulatory agenda.