The CFPB’s spring regulatory agenda had only one mortgage-related item: automated valuation models. The bureau expects to issue a proposed rule on the matter in December.
The business group has launched a media campaign targeting CFPB Director Rohit Chopra over his aggressive regulatory agenda. If left unchecked, Chopra’s actions will harm consumers and the economy, the Chamber of Commerce warned.
In an interpretive rule, the CFPB affirmed states’ ability to enforce fair credit reporting laws that reflect challenges and risks affecting their local economies and residents.
The bureau plans to review a Federal Reserve immunity provision that safeguards credit card issuers from enforcement scrutiny if they set late fees at a particular level.
The recent changes to the CFPB’s supervision manual that brought discriminatory conduct under its “unfairness” standard are unlawful, a coalition of banking trade groups argued in a new white paper.