The legislation is aimed at replacing the CFPB’s single director with a five-member bipartisan commission. Meanwhile, the Supreme Court is close to ruling on the constitutionality of the CFPB.

Industry trade groups have criticized the CFPB for issuing guidance that is largely repetitive. They want the agency to fix disclosure issues regarding title insurance premiums.

The CFPB clarified that furnishing a special code for tasks, such as disaster relief, is not a substitute for complying with CARES Act’s credit reporting requirements.

Financial institutions are rushing to iron out any remaining compliance wrinkles before the California Consumer Privacy Act comes into effect on July 1.

Mortgages continue to top the list of COVID-19-related complaints; tool to combat elder fraud launched; state regulators form a pandemic steering group; California Assembly Bill 2501 fails to pass.

The overall forbearance rate is levelling off but loans packaged into non-agency MBS and those held in portfolio showed a relief-request reading of 10.18%, up 15 basis points.

Redlining practices of several decades ago continue to have an adverse impact on black families’ homeownership rates and home equity, according to a recent study by Redfin.

Servicers have amped up their hiring and embraced virtual assistance, lowering average hold time to 1.8 minutes.

Forbearance tallies keep falling, which is good news for both servicers and consumers...