California’s new Business and Consumer Services Agency, led by former CFPB Director Rohit Chopra, will crack down on corrupt practices, lift small businesses and assist with state enforcement efforts.

The court found that mortgage borrowers failed to adequately state claims alleging violations of RICO, RESPA and a state consumer protection law.

Mark Paoletta said under Trump-era leadership, the bureau is developing targeted educational materials for consumers and is working to become a source of “unbiased objective information” consumers can trust.

Chris Willis, a partner at the law firm of Troutman Pepper Locke, said any credit risk identified in the new guidance from federal regulators is likely to have already been considered by lenders.

CFPB sends Section 1033 proposal to OMB for review; court upholds Lakeland Bank’s redlining consent order.

Industry trade groups are pushing for optimized investment tools, community bankers are warning against systemic risk and housing advocates believe the proposal will allow the GSEs to abandon the nation’s neediest populations.

More than 100 lenders have sought approval to participate in the GSEs’ pilot program for VantageScore 4.0. MBS investors are also seeking measures to prevent gaming, increase data transparency and ensure the GSEs can accept applications with more than one score.

Although the new condo rules have been criticized for being too stringent, GSE executives say many “expansions” have been added to the rules to make them more palatable.

Selling guide changes at the GSEs should make it easier for some borrowers to qualify for mortgages.

Fairholme Funds v. FHFA, the only net worth sweep lawsuit to make it to trial, is nearing the end of litigation.