A recent paper co-authored by Federal Reserve Governor Stephan Miran identifies several policy changes that would allow the Fed’s SOMA to be reduced by up to $2.13 trillion.
The Broker Action Coalition is asking its members to bring their credit report bills to the trade group’s Washington fly-in this month so DC politicians can see how much a monopoly costs.
Washington state’s financial regulator has accused Newrez of repeatedly violating the state’s Consumer Loan Act through “deficient” mortgage servicing practices.
In a court filing last week, the administration offered a revised plan to lay off nearly 53% of the bureau’s current staff, downsizing the agency from 1,174 employees to 556.
The trade group asked the bureau to raise the loan reporting threshold for HMDA and remove the quarterly reporting requirement. NCRC asked the CFPB to retain its current HMDA data collection efforts.
A senior official at NYDFS said the state regulator isn’t trying to fit buy now, pay later loans into an outdated regulatory box, but is trying to ensure the framework reflects the product as it actually exists today.
FDIC examiners said most TILA issues involved failure to provide consumers with disclosures. Issues with the Electronic Fund Transfers Act and the Flood Disaster Protection Act were also common.