The new terms take effect immediately and apply retroactively to loans sold since Jan. 1, 2013, that have not been subject to a buyback.
Probing for details on a potential borrower’s Social Security disability benefits runs afoul of the Equal Credit Opportunity Act and Regulation B, the Consumer Financial Protection Bureau said in a bulletin yesterday.
Reinforcing letters from ABA and national trade groups last week, 53 state bankers associations yesterday wrote to Congress to emphasize the importance of a national standard for data security expectations.
The FDIC’s inspector general and the Department of Justice’s ethics office have pledged to investigate their agencies’ involvement in “Operation Choke Point,” Rep. Blaine Luetkemeyer (R-Mo.) announced on Friday.