Kaitlyn Cherry, licensing director and corporate counsel at Guild Mortgage, called for the creation of a temporary authority sponsorship acceptance period, among other improvements.

Trade groups representing banks used the bureau’s new petition process to ask the regulator to ensure nonbank data aggregators are supervised under the pending Section 1033 rulemaking.

In comments to the CFPB, consumer advocates argued credit card late fees were too high and harmed poorer consumers more. Bank trade associations said the fees are necessary to help issuers pay for their costs and an effective tool to foster healthy financial behaviors among consumers.

Federal Reserve investigation and oversight staffers shared advice for compliance staff at firms pursuing mergers and acquisitions.

Interpretive rule outlines digital marketer liability; CFPB fines “no overdraft” fintech for overdrafts; senators followup on CFPB’s U.S. Bank enforcement; bureau warns of consumer commerce data misuse; VantageScore stops reporting medical debt; NMLS seeks disclosure question feedback.

Meanwhile, a senior Ginnie official said the agency will have more to say about capital requirements for nonbanks in the very near future...

At midyear, 806,884 mortgages backing MBS issued by the GSEs and Ginnie were delinquent...

The first hint of this false identity scheme came through a tip to the SFFR team...

Beginning in March 2023, GSE servicers will have to retain fair lending data. FHFA set the requirement, citing lessons learned during the pandemic.

Sheila Bair, who resigned as Fannie board chair earlier this year, said the GSEs are ready to exit conservatorship.