CFPB rescinds policy statements granting temporary relief

The Consumer Financial Protection Bureau rescinded seven policy statements issued last year that provided temporary flexibilities to financial institutions on mortgage lending, credit reporting, credit cards, and prepaid cards.

The CFPB also rescinded its 2018 bulletin on supervisory communications and replaced it with a revised bulletin describing its use of “matters requiring attention” to convey supervisory expectations. The rescissions are effective today.