The bureau has released three surveys as part of its review of the integrated mortgage disclosure rule. According to comments received so far, the industry seeks clarity in the rule’s timing requirements.
The CFPB late January sued Citizens Bank for alleged credit card errors. The lawsuit raises questions about consistency in the bureau’s enforcement strategy under its current leadership.
Before a district court in New York, the CFPB argued that its funding source, which falls outside the appropriations process, is constitutional. The case stems from a dispute arising out of a civil investigative demand.
Fitch Ratings raised concerns about the CFPB’s plan to move away from the debt-to-income ratio in defining a qualified mortgage. It believes the DTI ratio is a better predictor of borrower default risk.
CFPB-Education Department MOU; CFPB’s associate director for research, markets and regulation resigns; Puerto Rico reporting requirements; debt collection event.
Industry consultant Paul Hindman on Mike Weinbach, the new Wells Fargo mortgage chief: “He’s s out to control the messaging. His goal will be to get immediate results.”
The coronavirus outbreak may strike little-known pandemic bonds issued by the World Bank in 2017. Travel restrictions in response to the outbreak may also impact ABS backed by aircraft leases.
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