The Consumer Financial Protection Bureau (CFPB) today announced that it would extend the comment period for the Notice of Proposed Rule Making implementing the Fair Debt Collections Practices Act (FDCPA).

This week, AFSA’s State Government Affairs team published their latest white paper, covering reverse mortgages. Reverse mortgages offer a way for seniors to tap into the available equity of their home and can help them maintain their standard of living, afford long-term care or cover other expenses for their families during their lifetimes.

The CFPB has released an advance notice of proposed rulemaking to solicit feedback about future changes to qualified mortgage standards under Regulation Z. In particular, the CFPB intends to allow the current treatment of loans eligible for purchase by Fannie Mae or Freddie Mac (“GSEs”) to expire on schedule.

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This week, the Senate Environment and Public Works Committee marked up its draft surface transportation legislation. The $287 billion bill, more commonly known as the “Highway Bill,” jump-starts a legislative process that will span multiple committees and attract additional proposals from both sides of Capitol Hill.

The Department of Housing and Urban Development (HUD) today published a proposed rule updating the interpretation of the disparate impact standard in home financing. The update would require plaintiffs who allege disparate impact discrimination to meet a five-point threshold to prove their case.

The Federal Trade Commission’s national “Do Not Call Registry” and its new interactive web database illustrates the plague of illegal robocalls and the need to rein in what is now more than an annoyance. The visuals in the web data base show nearly 30 calls for every person in the country, with nearly 16 million complaints from consumers gathered in the last three years. The most common complaint? Calls claiming their firms can “reduce debt” for consumers. It’s not surprising that many such calls are from bad actors seeking to take advantage of vulnerable consumers. That’s why AFSA has long promoted pro-consumer policies that protect them from unscrupulous firms that overpromise on debt relief, overcharge for their “services” and drive their clients into bankruptcies that further hinder their financial health. The Consumer Financial Protection Bureau (CFPB) has even warned about the dangers of these companies.

Join us on August 8 at 2 p.m. for How to ensure that your AI doesn’t become a litigation nightmare, presented by Mayer Brown.

Vermont Senate Bill 18 became law yesterday without Governor Philip Scott’s signature and without harmful language for consumers attempting to finance vehicles in the Green Mountain State.

In The Hill today AFSA President & CEO Bill Himpler lays out the need for the Pentagon to allow servicemembers to take advantage of Guaranteed Asset Protection, also known as a GAP waiver.