The Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin on the Electronic Fund Transfer Act’s (EFTA) compulsory use prohibition which provides, among other things, that no person may require a consumer to establish an account for receipt of electronic fund transfers with a particular financial institution as a condition of receipt of a government benefit.
Compliance Newshub
Federal Legislation
This topic consolidates legislative summaries of proposed and final regulatory rules impacting the mortgage banking industry today. This includes rules promulgated by federal regulatory agencies as well as up-to-the-minute legislative actions out of Washington, DC.
