Archive | CFPB

CFPB Update

Kathy Kraninger Is The New Director Of The 1,500 Employee Agency She was confirmed by a vote of 50-49 in the Senate and replaces the controversial Acting Director Mick Mulvaney. He was her boss at the Office of Management and Budget. Who Is She? Republicans say that she has been an outstanding government employee for […]

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New Information For Borrowers and Home Owners

All Owners Borrowing On Their Personal Residence For “Consumer Purposes” Must Receive A Federal Booklet, “Your Home Loan Toolkit” It is an excellent source of information concerning loans. The booklet is available free at www.cfpb.gov. I Want To Discuss The Last Section In The Booklet Title: Owning Your Home, subtitles-Owning a home is exciting; your […]

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Wells Is In The Penalty Seat Again

Wrote This Article On Thursday And An Announcement Came Out On Friday It is a done deal. After all the troubles that they have had over the recent years, they are now in “early stage discussions” with the Consumer Financial Protection Bureau over possible new penalties. These problems stem from their practice of charging for […]

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california state assembly is the lower house of the california state legislature.

More Stuff Happening At CFPB

Being Involved In Mortgage Loan Originator Education I closely watch what is going on at the Consumer Financial Protection Bureau. It can affect my income and the income of sons, grandchildren, wife, staff, etc. The organization is about eight years old now, but changes they are acoming. First, I have already many times relayed that […]

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Keeping You All Up To Date

CFPB Will Pull Back, Act With ‘Humility,’ Internal Memo Says The Consumer Financial Protection Bureau will pull back its enforcement actions and act with “humility and moderation” according to an internal memo. The memo, obtained by Reuters on Monday, said that the CFPB will seek to promote a free market for financial services. “If there […]

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Breaking: CFPB Structure Is Constitutional

This Alert Was Sent To Me By Theresa Ballard The legendary compliance management consultant, and I thank her everyday for her assistance in our presentation of MLO courses. When I met Theresa, I could not even spell MLO. An En Banc Panel Of D.C. Circuit Judges On Wednesday Overturned A Ruling This would have allowed […]

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california state assembly is the lower house of the california state legislature.

What Is Happening At The CFPB Lately?

When We Last Discussed The Consumer Financial Protection Bureau There was a conflict concerning who would be the Interim Director after Richard Cordray resigned. It is now Mick Mulvaney who also is the White House Budget Director. Couple of big announcements in the last couple weeks indicate the direction that the Bureau will be heading […]

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california state assembly is the lower house of the california state legislature.

CFPB Confusion Again

Richard Cordray Resigns In A Hurry He appoints Leandra English, Acting Director. This move is based on a statute from 2010 when the CFPB was formed that stated that this was legal. When President Trump heard of the resignation, he appointed Mick Mulvaney, Interim Director, based on a 1999 statute that stated that this was […]

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Cordray

Richard Cordray, Director Of The Consumer Financial Protection Bureau, Announced His Retirement On November 16th Via Email To His Staff He is leaving the “end of the month”. His days were numbered anyway as his six year appointment ends in July 2018. Congress and President Trump have been searching for methods to remove him sooner. […]

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Richard Cordray Defends CFPB Arbitration Rule Amid Speculation He Plans To Run For Ohio Governor

Nothing more needs to be said. It is an interesting read by Renae Merle from The Washington Post. Richard Cordray Defends CFPB Arbitration Rule Amid Speculation He Plans To Run For Ohio Governor Richard Cordray, the head of the Consumer Financial Protection Bureau, went on the offensive Tuesday to publicly defend an agency rule that […]

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