Sen. Jack Reed, D-RI, warned that credit-risk transfer issuance by banks could prompt a financial crisis. He asked the Fed to place limits on bank CRT activity.
The final rule on the use of automated valuation models in mortgage lending includes a standard that seeks to ensure compliance with nondiscrimination laws.
According to industry attorneys, the updated rule signals that the CFPB will “increasingly encourage, and perhaps pressure, nonbanks to consent to be supervised.”
More than a handful of motions and briefs have been filed over the last two weeks in the lawsuit challenging the CFPB’s final credit card late fee rule.