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Chopra's Impact Coming Via Guidance More Than Enforcement

November 7, 2022
Sam Manas
After a quiet period in the early days of Rohit Chopra’s tenure, the CFPB is back on pace with enforcement actions. But the new director’s presence is really being felt in an avalanche of guidance.
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Lax Data Security Could Be Unfair Practice: Bureau Guidance

November 7, 2022
Sam Manas
The bureau has sent notice that financial services firms need to stay on their toes regarding data security or risk violating the Consumer Financial Protection Act.
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Fed: Ineffective Communication Can Hinder Compliance

November 7, 2022
Sam Manas
A firm’s organizational structure and the way information is shared can have implications for the likelihood of compliance problems.
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'Surprise' Overdraft, Depositor Fees Prohibited by CFPA

November 7, 2022
Sam Manas
CFPB says that overdraft fees based on “unintelligible” processes and blanket policies to charge consumers for depositing checks that bounce are both likely violations of the Consumer Financial Protection Act.
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Other News in Brief

November 7, 2022
Sam Manas
Broeksmit criticizes CFPB at annual MBA conference; Senate Democrats ask for remittance rule revisions; bureau reopens payment service comments; CFPB says student borrower finances worsening.
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G-Fee Hikes May Be Needed To Pay for Lost LLPA Revenue

November 7, 2022
Dennis Hollier
One analyst believes Fannie and Freddie will need to increase base g-fees by about 3 basis points...
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Depositories Report Weakening Mortgage Banking Income

November 7, 2022
John Bancroft
JPMorgan Chase was the top earner among the group with $313 million in mortgage fees and related income...
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As Year Draws to a Close, MSR Bidders Get Pickier

November 7, 2022
Paul Muolo
It’s a combination of too much servicing supply and buyers that have already burned through their acquisition budgets...
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Mat Ishbia: UWM Chairman and CEO. And Maybe NFL Team Owner?

November 7, 2022
Paul Muolo
The Commanders are worth an estimated $5.6 billion...
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Racial Application Denial Gaps Not Due to Differential Treatment

November 7, 2022
Sam Manas
Observable underwriting factors explain most racial and ethnic disparities in mortgage application denial rates, a new Fed study finds.
Read More
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