The CFPB late January sued Citizens Bank for alleged credit card errors. The lawsuit raises questions about consistency in the bureau’s enforcement strategy under its current leadership.
Before a district court in New York, the CFPB argued that its funding source, which falls outside the appropriations process, is constitutional. The case stems from a dispute arising out of a civil investigative demand.
Fitch Ratings raised concerns about the CFPB’s plan to move away from the debt-to-income ratio in defining a qualified mortgage. It believes the DTI ratio is a better predictor of borrower default risk.
CFPB-Education Department MOU; CFPB’s associate director for research, markets and regulation resigns; Puerto Rico reporting requirements; debt collection event.
Industry consultant Paul Hindman on Mike Weinbach, the new Wells Fargo mortgage chief: “He’s s out to control the messaging. His goal will be to get immediate results.”
The coronavirus outbreak may strike little-known pandemic bonds issued by the World Bank in 2017. Travel restrictions in response to the outbreak may also impact ABS backed by aircraft leases.
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