CFPB ISSUES CREDIT REPORTING GUIDANCE DURING COVID-19 PANDEMIC
FOR IMMEDIATE RELEASE:
April 1, 2020
MEDIA CONTACT:
Office of Communications
Tel: (202) 435-7170
CFPB ISSUES CREDIT REPORTING GUIDANCE DURING COVID-19 PANDEMIC
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today released a policy statement outlining the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic. In response to the pandemic, many lenders are being flexible when it comes to consumers’ making payments. The Bureau’s statement underscores that consumers benefit if lenders report accurate information about these arrangements to credit bureaus so that the credit reports of consumers are accurate.
“During this time of uncertainty, we are providing clarity to ensure the consumer reporting industry can continue to function,” said Director Kraninger. “Consumers rely on their credit report to purchase a new car, their new home, or to finance their college education. An effective consumer reporting system is critical in promoting fair and efficient access to credit in the consumer financial services market.”
As lenders continue to offer struggling borrowers payment accommodations, Congress last week passed the CARES Act. The Act requires lenders to report to credit bureaus that consumers are current on their loans if consumers have sought relief from their lenders due to the pandemic. The Bureau’s statement informs lenders they must comply with the CARES Act. The Bureau’s statement also encourages lenders to continue to voluntarily provide payment relief to consumers and to report accurate information to credit bureaus relating to this relief. The continuation of reporting such accurate payment information produces substantial benefits for consumers, users of consumer reports, and the economy as a whole.
In addition, in response to staffing and resources constraints on lenders and credit bureaus due to the pandemic, the Bureau’s statement also provides flexibility for lenders and credit bureaus in the time they take to investigate disputes. The Bureau specifically states that it does not intend to cite in an examination or bring an enforcement action against firms who exceed the deadlines to investigate such disputes as long as they make good faith efforts during the pandemic to do so as quickly as possible.
Earlier this month, the Bureau provided consumers with resources to protect their credit. The Bureau’s blog outlines the steps consumers should take if they cannot make a payment, how to dispute inaccurate information on their credit report, and how to obtain a free copy of their credit report. The blog can be found here.
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The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.
Billy Bob’s Texas Hosts Live Watch Party To Celebrate Its 39th Anniversary Live at Billy Bob’s Texas Now Airing on Circle
Billy Bob’s Texas Hosts Live Watch Party To Celebrate Its 39th Anniversary
Live at Billy Bob’s Texas Now Airing on Circle
Received 18th nomination for ACM
Club Of The Year
FORT WORTH, Texas – The legendary Billy Bob’s Texas, located in the heart of the Fort Worth Stockyards National Historic District, first opened in 1981. While concerts for April have been postponed due to social distancing as a result of the COVID-19 virus, the colossal Billy Bob’s Texas will continue their concerts as soon as possible.
While events may have been halted temporarily, Billy Bob’s Texas is doing their part to help the community and give back wherever possible. As part of a local effort, Billy Bob’s Texas recently partnered with Carter Bloodcare for a special community blood drive. A total of 339 units of blood were collected as a result and will be used to aid those in need.
As a way to celebrate the 39th anniversary of Billy Bob’s Texas on April 1, there will be a special watch party featuring some of the area’s most well known local talent. Artists performances will include Abraham Alexander, Austin Allsup, Bonnie Bishop, Chad Prather, Brad Thompson, Grady Spencer, Jack Barksdale, Jerrod Flusche, Johnny Cooper, Josh Weathers, Kris Luv, Matthew McNeal, Michael Lee, Rob Redwine, Smooth Vega, Summer Dean and more!
“Though we are moving through unprecedented times in the entertainment industry and the world with the COVID-19 pandemic, we still wanted to find a way to honor this milestone,” says Keitha Spears, Director of Marketing at Billy Bob’s Texas. “Parties at Billy Bob’s Texas typically take place on our dancefloor and in the showroom with several thousand of our closest friends, but that just isn’t an option this year. This watch party is a way for us to celebrate 39 incredible years in the Historic Fort Worth Stockyards while staying safe and doing our part to flatten the curve. We are thrilled to partner with Visit Fort Worth and Tarrant to showcase local musicians and raise money for our creative community.”
There will be a virtual tip jar in association with the watch party where viewers can make donations that will that will go directly to the United Way of Tarrant County, Hear Fort Worth, Film Fort Worth Creative Industry Relief Fund which was developed to help support musicians, visual artists, and filmmakers who have lost work due to COVID-19. The initiative spearheaded by Hear Fort Worth is an extension of Fort Worth musician Rachel Gollay’s Artist & Service Worker Relief Fund.
The watch party can be seen on Billy Bob’s Texas Facebook page or by visiting here.
Billy Bob’s Texas has earned an impressive 10 ACM Nightclub of the Year Awards with 18 nominations. In 2020, the Academy of Country Music once again nominated Billy Bob’s for Club of the Year!
There are a handful of concerts that were postponed that have been rescheduled such as Easton Corbin (6/19), Justin Moore (9/26), Colter Wall (11/19) and more dates coming soon.
For more information on all rescheduling and future announcements, visit www.billybob’stexas.com.
Circle now airing Live At Billy Bob’s Texas!
Live at Billy Bob’s Texas gives the listener a front row seat to concerts at the World’s Largest Honky Tonk. The music series has compiled powerful performances featuring hits from legendary country music artists like Merle Haggard, Willie Nelson, Charlie Daniels, Eddy Raven, Gary Stewart, Asleep at the Wheel, Janie Fricke and more.
Now, Circle network is carrying Live At Billy Bob’s Texas! Launched in January, Circle Media celebrates the country lifestyle and puts fans inside the circle of everything country. Circle offers entertainment news, documentaries, movies, archival, new and licensed programming, Grand Ole Opry performances, and more. Based in Nashville, Circle includes a linear network as well as a companion over-the-top (OTT) premium entertainment service which is expected to launch in spring 2020. Circle is a joint venture between Opry Entertainment Group, a subsidiary of Ryman Hospitality Properties, and Gray TV.
Live at Billy Bob’s Texas will air:
Wednesday, April 01 4:00pm EST – Billy Joe Shaver
Wednesday, April 08 4:00pm EST – Larry Gatlin & The Gatlin Brothers
Wednesday, April 15 4:00pm EST – The Charlie Daniels Band
Wednesday, April 22 4:00pm EST – Collin Raye
Wednesday, April 29 4:00pm EST – Tracy Byrd
Go to CirclePlus.com for shows, schedules and a simple guide to getting the channel.
Visit BillyBobsTexas.com/live-at-billy-bobs for more information.
Location:
Billy Bob’s Texas
Historic Fort Worth Stockyards
2520 Rodeo Plaza
Fort Worth, Texas 76164
(817) 624-7117
DIRECTIONS
About Billy Bob’s Texas:
Located in the heart of the Fort Worth Stockyards National Historic District, the 100,000 square foot cattle barn became Billy Bob’s Texas in 1981. Since then more than 17 million visitors have enjoyed live entertainment and real bull riding at “The World’s Largest Honky Tonk”.
The facility can hold 6,000 rowdy patrons on a given night and has been host to hundreds of musical acts, from Alan Jackson to ZZ Top. On Fridays and Saturdays, the venue also features live bull riding – a step up from the mechanical variety. It seems like an unlikely source for a series that has sold millions of albums.
Billy Bob’s has been named the Country Music Club of the Year 10 times by the Academy of Country Music.
To buy Billy Bob’s Texas merch, or any of the Live at Billy Bob’s Texas CDs and DVDs, click here to visit the online store, or to buy tickets for special events and concerts, go to billybobstexas.com.
About United Way of Tarrant County:
United Way of Tarrant County has worked to improve the lives of those in our communities since 1922. As a nonprofit leader, we bring together individuals, groups, donors and service providers to help solve some of the toughest social issues affecting Tarrant County. Each year, United Way of Tarrant County helps more than 300,000 people through its resources. United Way of Tarrant County has no fees on donor designations, with 100 percent of the donations going to the selected agency or cause.
For important updates and more information visit Billy Bob’s Texas social channels linked below.
Instagram | Twitter | Facebook | YouTube
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Suggested Tweet:
.@CircleAllAccess now airing @LiveatBBT! Watch party celebrating 39th anniversary on April 1st will raise funds for #HearFortWorth & @UnitedWay. @BillyBobsTexas receives @ACMAwards nomination for #ClubOfTheYear!
Midland’s video for “Burn Out” was filmed at Billy Bob’s in Fort Worth, Texas.
Midland’s video for “Burn Out” was filmed in one continuous take, in the center of the dance floor at Billy Bob’s in Fort Worth, Texas.
Live at Billy Bob’s Texas
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Billy Bob’s Texas Media Contacts:
Jeremy Westby, jpw@2911.us, 833-537-2911 x800
Scott Sexton, scott@2911.us, 833-537-2911 x802
CFPB PROVIDES FLEXIBILITY DURING COVID-19 PANDEMIC
CFPB-Logo
FOR IMMEDIATE RELEASE:
March 26, 2020
MEDIA CONTACT:
Office of Communications
Tel: (202) 435-7170
CFPB PROVIDES FLEXIBILITY DURING COVID-19 PANDEMIC
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today announced that it is providing needed flexibility to enable financial companies to work with customers in need as they respond to the COVID-19 pandemic. The Bureau is postponing some data collections from industry on Bureau-related rules to allow companies to focus on responding to consumers in need and making changes to its supervisory activities to account for operational challenges at regulated entities.
“As consumers seek temporary relief from lenders, the pandemic is impacting the operations of financial companies that are eager to help their customers during this unprecedented time,” said Director Kathleen L. Kraninger. “Our actions today are temporary and targeted to support consumers by allowing financial companies to focus their resources on assisting consumers.
“The Bureau, along with our state and federal partners, have released prior guidance encouraging financial institutions to work constructively with borrowers and other customers affected by COVID-19 to meet their financial needs. We will continue to issue additional guidance and policies to facilitate the ongoing collaborative relationship between companies and their customers during this time,” concluded Director Kraninger.
The Bureau will not expect quarterly information reporting by certain mortgage lenders as required under the Home Mortgage Disclosure Act (HMDA) and Regulation C. During this time, entities should continue collecting and recording HMDA data in anticipation of making annual submissions. The Bureau will provide information on when and how institutions will be expected to commence what would have been new quarterly HMDA data submissions.
The Bureau also will not expect the reporting of certain information related to credit card and prepaid accounts under the Truth in Lending Act, Regulation Z, and Regulation E. This includes the annual submissions concerning agreements between credit card issuers and institutions of higher education; quarterly submission of consumer credit card agreements; collection of certain credit card price and availability information; and submission of prepaid account agreements and related information.
Additionally, the following data collections are being postponed:
a survey of financial institutions that seeks information on the cost of compliance in connection with pending rulemaking on Section 1071 of the Dodd-Frank Act; and
a survey of firms providing Property Assessed Clean Energy financing to consumers for the purposes of implementing Section 307 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
To the extent the submission of this information is required by law, the Bureau is issuing policy statements indicating that it does not intend to cite in an examination or initiate an enforcement action against any entity for failure to submit such information when required. The Bureau will notify entities at a later date of when and how to submit information under these requirements. Entities should maintain records sufficient to allow them to make delayed submissions pursuant to Bureau guidance.
The Bureau also announced that as a result of operational challenges confronted by institutions due to the pandemic, the Bureau will work with affected financial institutions in scheduling examinations and other supervisory activities to minimize disruption and burden. When conducting examinations and other supervisory activities and in determining whether to take enforcement action, the Bureau will consider the circumstances that entities may face as a result of the COVID-19 pandemic and will be sensitive to good-faith efforts demonstrably designed to assist consumers.
Statement on Supervisory and Enforcement Practices Regarding Quarterly Reporting Under the Home Mortgage Disclosure Act: https://files.consumerfinance.gov/f/documents/cfpb_hmda-statement_covid-19_2020-03.pdf.
Statement on Supervisory and Enforcement Practices Regarding Bureau Information Collections for Credit Card and Prepaid Account Issuers: https://files.consumerfinance.gov/f/documents/cfpb_data-collection-statement_covid-19_2020-03.pdf.
Statement on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic: https://files.consumerfinance.gov/f/documents/cfpb_supervisory-enforcement-statement_covid-19_2020-03.pdf.
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The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.
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CONSUMER FINANCIAL PROTECTION BUREAU ISSUES REQUEST FOR INFORMATION TO ASSIST TASKFORCE ON FEDERAL CONSUMER FINANCIAL LAW
FOR IMMEDIATE RELEASE:
March 27, 2020
MEDIA CONTACT:
Office of Communications
Tel: (202) 435-7170
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CONSUMER FINANCIAL PROTECTION BUREAU ISSUES REQUEST FOR INFORMATION TO ASSIST TASKFORCE ON FEDERAL CONSUMER FINANCIAL LAW
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) issued today a request for information (RFI) to assist the Taskforce on Federal Consumer Financial Law (Taskforce) with recommendations on harmonizing, modernizing, and updating the federal consumer financial laws.
The Taskforce seeks input from the public at this time to help identify areas of consumer protection on which it should focus its research and analysis during the balance of its one-year appointment. The RFI will be one of multiple opportunities for the public to provide feedback directly to the Taskforce and thus to help inform its recommendations. More specifically, the RFI seeks comments and other information on the following topics: expanding access to consumer financial products and services; protection and use of consumer data; regulations the Bureau writes and enforces; federal and state coordination; and improving the market for consumer financial products and services. The comment period for the RFI will close 60 days after the date of its publication in the Federal Register. The comment deadline will be provided on the Bureau’s website.
The Taskforce is an independent body within the Bureau and reports to Director Kathleen L. Kraninger. It is charged with examining the existing legal and regulatory environment facing consumers and financial services providers and reporting its recommendations for ways to improve and strengthen federal consumer financial laws to the Bureau’s Director. The Taskforce’s recommendations may include actions that the Bureau could carry out using its current authorities and actions that would require legislation to implement. The Taskforce will produce new research and legal analysis of consumer financial laws in the United States, focusing specifically on harmonizing, modernizing, and updating the federal consumer financial laws—including their implementing regulations—and identifying gaps in knowledge that should be addressed through research, ways to improve consumer access to and understanding of markets and products, and potential conflicts or inconsistencies in existing regulations and guidance.
The Taskforce members were announced in January 2020 and they are expected to deliver their findings to Director Kraninger within the span of one year.
The public is invited to submit written comments on the RFI. The Taskforce will carefully consider the comments before delivering its findings to the Director.
To read the RFI click here: https://files.consumerfinance.
To learn more about the Taskforce click here: https://www.consumerfinance.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.
MUSIC COMMUNITY REMEMBERS JOE DIFFIE
MUSIC COMMUNITY REMEMBERS JOE DIFFIE
“What a devastating loss… times like these leave me speechless. Joe and I played more shows together than I can count. My heart goes out to his wife Tara and his children. He will be missed. May God Bless us all.” – Doug Stone
*In addition to touring together, Joe co-wrote “Burning Down This House” for Doug: Click Here
“I’m shocked and saddened by the news of Joe Diffie’s passing. I was fortunate to get to know Joe and tour with him in the 90’s. I always enjoyed hearing him hit the big notes on those classic ballads. He was such a strong singer. I recently came across some old footage of us cutting up during a TV taping. He had a wicked sense of humor. This is a big loss for all of us. My condolences go out to his family and friends and all of his fans.” – Terry McBride
*License a photo of Joe and Terry: Click Here
“Joe Diffie was the ‘pickup man’ — always had a smile and a story, to cure and encourage. It was my fortunate blessing to come along the same time JD did, in music —so many great memories, and so many times he ‘propped me up.’ The trailer that Bud Hunter hauled all across the country on our tour for years was the one we got from Joe — it had 71 on it, because that was Joe’s golf score, so Bud left it there. I guess he was always with us and always will be! Mary and I send love and prayers to Tara and the family, in this unbearably sad moment, as country music is left with a huge void. Rest easy my friend, shoot 71 every day — til we sing together again. I love you brother.” – Randy Travis, Country Music Hall of Fame and Grand Ole Opry member
*Randy and Joe were featured on “Same Old Train” with a slew of fellow artists in 1998: Click Here
“We’re all shocked and saddened to hear the news of my friend Joe Diffie’s passing. Joe and I toured for a year together along with Travis Tritt. Everyday he would come by my bus about noon and we would go to lunch together. He was a warm-hearted, good-natured, fun-loving man with an extraordinary voice. I will miss him.” – Lee Roy Parnell
*Check out Diffie, Parnell and Tritt on American Music Shop: Click Here
*Read Variety’s review of their package tour: Click Here
“I am in total shock hearing about our dear Joe! He is among everyone’s favorite singers. I was blessed to write a few big ones for Joe. ‘A Night To Remember’ and he one he took a big chance on ‘Tougher Than Nails.’ Nashville will never be the same without Joe Diffie.” – Max T. Barnes
*For a playlist of Joe Diffie songs penned by Barnes: Click Here
*For a photo of Diffie, Barnes and T.W. Hale: Click Here
“Rest in peace, Joe Diffie. Country music‘s huge loss of my friend, a great singer and songwriter. May God Bless his family and friends.” – Jerry Lee Lewis, Rock and Roll Hall of Fame member
“Joe Diffie’s music is in heavy rotation in the soundtrack of my life. He was one of the first major artists I ever opened for and I will never forget how gracious he was to me and my band. Much love, thoughts and prayers for his family during this time.” – Paul Bogart, country artist and fellow Oklahoman
“Oklahoma lost a favorite son and the country music world lost an incredible voice yesterday. Joe Diffie and his music were the soundtrack to so many good times, it’s hard to believe he’s gone. He was a real neotraditionalist and his influence is still heard in new artists today. Thanks for the music, Joe.” – James Robert Webb, country artist and fellow Oklahoman
A SPECIAL NOTE ON JAN HOWARD
In addition to Joe Diffie, the country music community lost my dear friend, Jan Howard, this weekend. Jan was the oldest living member of the Grand Ole Opry, having just celebrated her 91st birthday. My full thoughts and remembrance of her can be read on my Facebook page. Her ties to our 117 family run deep, especially with one of her closest friends, Bobby Bare. Both Bare and Jan have told me stories of when he would visit Nashville, prior to moving here in the early ’60s. He would sleep in Jan’s bathtub if there wasn’t an open couch or bed in the house! In college, I interviewed Jan and we went deep into her story and the loss of her sons, it was an intense and emotional interview, I will forever cherish this memory along with all the others I have with Jan, including square dancing at the Longhollow Jamboree and brunching at the Loveless Cafe. – Zach Farnum
Media Contact:
Zach Farnum | zach@117group.com | 615-997-0100
JOE DIFFIE PASSED AWAY AT AGE 61 FROM COMPLICATIONS OF CORONAVIRUS (COVID 19)
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