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Fairway Settles CFPB, DOJ Lawsuit Over Redlining

October 21, 2024
Shannon Clark
More fair lending enforcement actions and investigations could come up over the next few months ahead of potential changes in the political landscape, according to Richard Horn, co-partner at the law firm of Garris Horn.
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MISMO Releases Mortgage Compliance Dataset

October 21, 2024
Shannon Clark
The new dataset will help both regulators and mortgage companies, according to MISMO.
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CFPB Bans Company From Arbitrating Consumer Financial Disputes

October 21, 2024
Shannon Clark
Ejudicate has been permanently banned by the bureau for holding arbitration proceedings for a company it received a kickback from.
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Regulators Debate Risks of Embedded Finance Products

October 21, 2024
Shannon Clark
By the end of the decade, the embedded finance industry could be bringing in close to $400 billion in revenue each year, according to Seth Frotman, general counsel at the CFPB.
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Registration Opens for CFPB’s Nonbank Compliance Tracking System

October 21, 2024
Shannon Clark
All new covered orders must be submitted within 90 days of the order’s effective date, according to the bureau’s final rule on the registry.
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CFPB Homes In on Illegal Auto Finance Practices

October 21, 2024
Shannon Clark
The findings published in the CFPB’s latest supervisory highlights report are largely in line with previous bureau actions.
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Other News in Brief

October 21, 2024
Shannon Clark
FTA sues CFPB over BNPL interpretive rule; DOJ reaches first redlining settlement with a credit union; CFPB files lawsuit against student loan provider; regulators update nonbank ransomware self-assessment tool.
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Democrats Urge Regulators to Rein In FICO

October 21, 2024
Dennis Hollier
The Democrats calculate that the cost of a FICO score has increased by as much as 400% over the past two years.
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FHLBanks React to Treasury Threats on Affordable Housing

October 18, 2024
Dennis Hollier
The Council of Federal Home Loan Banks said Treasury’s proposal that the FHLBanks use their excess retained earnings to support affordable housing is asking them to operate on minimum capital levels.
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OIG Adds GSE Multifamily Risk to Concerns for FHFA

October 18, 2024
Dennis Hollier
The list of challenges facing FHFA include the GSEs’ multifamily business, the Office of Inspector General said in a new report.
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