Advocates urge Director Kathleen Kraninger to abandon the proposed reorganization of the Consumer Financial Protection Bureau’s (CFPB) Division of Supervision, Enforcement, and Fair Lending (SEFL).
We are writing to highlight the effect of the Supreme Court’s recent decision in TransUnion L.L.C. v. Ramirez, 141 S. Ct. 2190 (U.S. June 25, 2021) on the CFPB’s work. The Ramirez decision significantly impairs the ability of consumers to privately enforce numerous federal consumer laws in federal court, particularly disclosure requirements.
A letter requesting a one-week extension of the comment period on the QM seasoning comments. The comment deadline for the proposed special QM definition for seasoned loans falls on September 28th, Yom Kippur, the holiest day on the Jewish calendar.
We are writing to urge the CFPB to amend the Interim Final Rule on Debt Collection Practices in Connection With the Global COVID-19 Pandemic (“IFR”) to clarify that it applies to the current eviction moratorium. The IFR requires increased information for tenants about COVID-related protection from eviction, and clarifies that consumers have federal remedies against debt collectors involved in the eviction that fail to provide or misrepresent that information.
On behalf of the low-income clients and communities we represent, we urge the Bureau to take immediate action to prevent a wave of COVID-19-related foreclosures, likely to be concentrated in low income communities and communities of color. The pandemic continues to harm homeowners, and according to a December 2020 Brookings Institution report, the crisis is worsening for Black and Latinx borrowers.
Read More about Group Letter to CFPB Urging Prevention of Covid Foreclosures
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