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Category: Director's statement |
Published

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Living Wills Submitted by JPMorgan Chase, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, State Street, and Bank of New York Mellon

CFPB Director Rohit Chopra’s statement on the Living Wills Submitted by JPMorgan Chase, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, State Street, and Bank of New York Mellon.
Category: Director's statement |
Published

Statement of Director Rohit Chopra on the LIBOR Transition Rule

In the years leading up to the subprime crisis, one opaque and easily manipulable index, LIBOR, came to dominate adjustable rate home mortgage loan contracts. In the wake of the crisis, we learned that large international banks had conspired to set the LIBOR rate in order to conceal weaknesses in the financial system and to boost their bottom line.
Category: Director's statement |
Published

Statement by CFPB Director Rohit Chopra on HUD Guidance on Special Purpose Credit Programs

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued the following statement: Earlier today, the U.S. Department of Housing and Urban Development released guidance clarifying that special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.
Category: Director's statement |
Published

Statement Regarding the Advisory Opinion to Curb False Identity Matching

As the economy recovers from the pandemic, many Americans are seeking new jobs and housing. But too many have been blocked, due to false identity matching by a background screening company or another outfit that sells our personal data.