CFPB Issues Report on “Buy Now, Pay Later”
Have you encountered the “Buy Now, Pay Later” (BNPL) option offered by companies like Klarna or Affirm while shopping online or through a...
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Sep 29, 20221 min
Is Your Technology Racist? The Unintended Consequences of Streamlined Borrower Experiences
We all hope it isn't. But what happens when your AI technology relies on data that’s biased? Following his session at the MISMO Summit in...
Sep 15, 20222 min
California Allows Remote Work for LO's
California has recently passed a bill authorizing a licensee under the California Financing Law (CFL) to designate an employee to perform...
Aug 27, 20222 min
CFPB Takes Aim at Digital Marketing Providers
On August 10, 2022, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule to address digital marketing providers...
Aug 12, 20223 min
CFPB Issues Consent Order: Don't Underestimate the Value of Compliance
In a recent Consent Order, the Consumer Financial Protection Bureau (CFPB) addressed how companies will be held accountable for unlawful...
Jul 29, 20222 min
Special Purpose Credit Programs (SPCPs) Update
On July 19, 2022, the Consumer Financial Protection Bureau (CFPB) has circled back to address the regulatory uncertainty regarding...
Jun 29, 20223 min
New California Appraiser Requirements Beginning July 1, 2022
In 2021, California passed AB 948, also called the Fair Appraisal Act. In an effort to, “ensure that no one is discriminated against...
Jun 16, 20222 min
Reviewing Advertising without a Prescription is an Art Form
Advertisement review is likely listed as one of the least-favorite activities a compliance professional must take on. This is saying a...
Jun 9, 20223 min
Adverse Action Requirements Enforced Regardless of “Black-Box” Algorithms and Technology
As any mortgage compliance professional will tell loan production, “You can’t put ‘Low FICO’ as a decline reason!’” That’s because the...
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