Just before the vote, Sen. Elizabeth Warren, D-MA, released the CFPB nominee’s answers to a series of questions regarding the bureau. Warren said his responses were filled with “non-answers that regurgitated the agency’s obligations under the law.”
Several CFPB offices have been authorized to continue working, but the process has been filled with confusion between new bureau leadership and bureau employees.
The House Financial Services Committee voted 30-19 to pass a Congressional Review Act resolution to reverse a CFPB final rule that will limit overdraft fees charged by large banks and credit unions.
A Texas federal judge granted the CFPB’s request to stay for 30 days all pending deadlines in the credit card late fee lawsuit as it works with the plaintiffs in the case to resolve the matter.
District court denies request from CFPB to pause litigation against Comerica Bank; CFPB drops lawsuit against Zelle; lawsuits involving Military Lending Act moving forward; CFPB stays on case with state AGs; CFSA seeks ruling from Supreme Court on payday loan rule.
Three Democrats joined Senate Republicans in a vote to make Bill Pulte, the grandson of the founder of homebuilding giant PulteGroup, the chief regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.
According to FHFA’s inspector general, the Division of Enterprise Regulation has been steadily working with Freddie Mac to remedy deficiencies in the enterprise’s risk management.
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