The trade group’s call comes weeks after the CFPB hinted it may look to rescind its loan originator compensation rule.The trade association's new white paper comes weeks after the CFPB hinted it may look to rescind the LO Comp rule altogether.
Other courts could also determine that the CFPB’s withdrawn guidance can still be considered in legal matters, according to attorneys at the law firm of Holland & Knight.
The CFPB now estimates that only 5.8% of the U.S. adult population in 2010 was without a credit record — a decrease from an 11.0% estimate published by the bureau in 2015.
Republicans on a House subcommittee pointed to the CFPB’s “aggressive” use of civil investigative demands as an example of overreach by the regulator under the leadership of Rohit Chopra.
The bureau urged the court to convert the bankruptcy case’s filing to allow the regulator to investigate whether Synapse Financial Technologies violated the CFPA, and provide redress to harmed consumers.
In fiscal year 2024, sex, race and age were the most frequently cited bases of discrimination among equal employment opportunity complaints received by the bureau.
CFPB issues new policy statement on criminal regulatory offenses; CFPB ends consent order with Navy Federal Credit Union; California’s licensing fees set to increase.
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