From Dodd Frank Update Archives - October Research LLC

Anything besides the pandemic

Dear Readers, For once, I don’t want to talk about the pandemic. For a year now, our world has revolved around the changes and restrictions that have come about because of COVID-19. With the vaccine roll out underway, there is finally light at the end of the tunnel of returning to a “new” normal. Acting Director of the Consumer Financial Protection Bureau Dave Uejio wrote in a recent blog post about the bureau’s work to address housing insecurity, promote racial equity, and protect small businesses’ access to credit. Though he did refer to easing the hardships consumers currently face because [...]

October232021-03-01T06:37:57-05:00

CFPB appears to be bulking up

Dear Readers, Nominations, taskforce reports, and enforcement actions, oh my! The year 2021 has certainly started off with a bang, and it looks like changes will only accelerate as the year goes on. No worries — we’ll be here to help you keep track of new rules and stay compliant. One of the literally biggest things that came out of the Consumer Financial Protection Bureau (CFPB) this past month was its consumer protection law taskforce report. The issuance is broken into two volumes, one of which is almost 900 pages, and the other around 100. According to the taskforce members, [...]

October232021-01-29T15:32:57-05:00

Steering PPP into the right hands

Dear Readers, According to the Select Subcommittee on the Coronavirus Crisis on the Paycheck Protection Program (PPP), there’s a possibility that billions of dollars might have been diverted to fraud, waste and abuse. Surprise. Surprise. The committee’s analysis identified 10,856 loans in which the borrower received multiple PPP loans, for a total of more than $1 billion in outstanding loans. The analysis was based on detailed data provided by the Treasury Department and the Small Business Administration (SBA). In addition to double dippers, the committee found 613 PPP loans, amounting to $96.3 million, provided to borrowers who are ineligible to [...]

October232020-09-30T07:12:02-04:00

October Research 20th Anniversary Sweepstakes

What is your wining strategy? Are you a by stander or a player? Are you the person that loves a raffle, giveaway, sweepstakes or a random lottery ticket? Well, if you are, then this is your LUCKY day. We are celebrating our 20th Anniversary and delighted to unveil our sweepstakes where you can win your way into NS3 2020. You heard me right, FREE entry into the NS3 conference! We also have many other prizes. First Place - Five winners will receive a six month digital subscription to any October Research publication in 2020. Second Place - Ten winners will receive [...]

October232019-10-02T13:52:24-04:00

Not Going Anywhere for a While? Grab a Rule Assessment
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Not Going Anywhere for a While? Grab a Rule Assessment

From Dodd Frank Update

Not Going Anywhere for a While? Grab a Rule Assessment

As the industry awaits the Consumer Financial Protection Bureau’s (CFPB) first rulemaking activity under Director Kathy Kraninger, stakeholders can reflect on the impact of some of the agency’s most significant regulations. The bureau published five-year assessments of its ability-to-repay/Qualified Mortgage rule and its mortgage servicing rule in January as statutorily required under Section 1022(d) of the Dodd-Frank Act. Both reports provide plenty of insight into the rules’ effectiveness since becoming implemented. Shortly after those reports’ publication, the industry’s attention immediately turned to another forthcoming five-year lookback on a rule that keeps many lenders and settlement agents up at night – [...]

October232019-02-07T11:31:04-05:00