The Richmond, VA-based bank has agreed to pay $6.2 million to settle charges that its employees failed to acquire consumers’ affirmative consent before enrolling them in an overdraft protection service.
Industry wants the CFPB to include an advanced notice of proposed rulemaking step in its Fair Credit Reporting Act rulemaking restricting the sale of consumer data by credit reporting companies.
Concerns over AI; the CFPB files comments on California DFPI’s proposed registration and examination of income-based advance providers; the CFPB ombudsman annual report; rulemaking on junk fees in Massachusetts; income share agreement provider settles with CFPB.
The Council of the Federal Home Loan Banks and the Federal Housing Finance Agency find themselves on opposite sides in a debate over the mission of the FHLBanks.
At FHFA’s direction, the GSEs have been working to ensure lenders can identify condo projects that are ineligible due to deferred maintenance or characteristics like excess commercial space or investor concentration.
Stricter energy codes would lower residents’ housing costs, improve their health and make them more resilient to the impacts of climate change, according to environmental and consumer groups.
The government-sponsored enterprise has collaborated with state housing finance agencies to develop standardized loan documents to simplify the use of downpayment assistance programs.
Although the GSEs financed fewer affordable units in small multifamily properties, the number of affordable units in Fannie- and Freddie-financed high-rises and garden apartments spiked from 170,000 to 248,000.
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