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The CFPB Thursday published the 19th edition of its supervisory activities, conducted between December 2018 and March 2019, which provides insights into auto loan origination, credit card account management, debt collection, furnishing, and mortgage origination.

Among the comments made by the CFPB regarding auto loan origination, the bureau noted that it continues to examine these activities, including "assessing whether originators have engaged in any unfair, deceptive, or abusive acts or practices prohibited by the Consumer Financial Protection Act of 2010."

Earlier this year, the bureau held a symposium focused on clarifying "abusive" under unfair, deceptive or abusive acts or practices (UDAAP). NAFCU has long advocated for the bureau to issue specific guidance on prohibited practices so financial institutions have more clarity on this issue, and has asked the bureau to provide guidance to clarify its UDAAP standard.

UDAAP violations related to threats of repossession or foreclosure in credit card collections and marketing regarding secured credit card accounts are further detailed in the supervisory report.

The report also provides a summary of the bureau's recent rules and guidance – including the small entity compliance guide, memorandum of understanding with the FTC, and amendments to the annual privacy notice requirement under the Gramm-Leach-Bliley Act.

During NAFCU's Congressional Caucus, CFPB Director Kathy Kraninger unveiled the bureau's new effort to cut back on regulatory duplication and improve processes through the use of four tools: supervision, education, rulemaking and guidance, and enforcement.  

View the full report. NAFCU will continue to work closely with the bureau to address credit union priorities.