Carefully Of The Cuff Cfpb And Respa Guidance On Digital Platforms The consumer financial protection act of 2010 transferred authority for respa to the cfpb from the department of housing and urban development (hud). this advisory opinion supplements guidance hud provided in 1996 on early versions of comparison shopping platforms, which the cfpb continues to apply. Josh and ray talk respa section 8 and the cfpb's recent guidance on digital platforms. consumerfinance.gov about us newsroom cfpb issues guidance.
Cfpb Addresses Respa Compliance For Digital Comparison Shopping On february 7, 2023, the cfpb issued long awaited guidance in an advisory opinion addressing how it interprets respa and its implementing regulation, regulation x, in the context of digital marketing and lead generation platforms for real estate settlement services. 1 these comparison platforms allow consumers to search for and compare options. The consumer financial protection bureau (cfpb) is issuing this advisory opinion to address the applicability of the real estate settlement procedures act (respa) section 8 to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real estate settlement services, including platforms. The cfpb states that it issued the advisory opinion “to address the applicability of the real estate settlement procedures act (respa) section 8 to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real estate settlement services, including platforms that generate potential. The cfpb’s new guidance is a reminder that respa “referrals” potentially can occur in the digital marketplace, from endorsement language to the use of programmatic (e.g., algorithmic) functions. as always, a section 8 analysis will be heavily dependent on the actual facts and circumstances.
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