Consumer complaints filed with the CFPB increased during the third quarter, with credit cards and credit reports jumping from already high levels. Gripes about student loans also saw a big jump during the quarter. (Includes two data charts.)
In a new report, the Federal Reserve said nearly 60% of the compliance violations it observed at banks in 2022 were related to reporting under the Home Mortgage Disclosure Act.
In an Appraisal Subcommittee hearing this month, CFPB Director Rohit Chopra focused on the impact of appraisal management companies, including their market share and fees.
Members on the Federal Reserve and FDIC boards who opposed approving the revised Community Reinvestment Act standards said the new rule could put regulatory burdens on banks.
The Community Home Lenders of America has proposed a “uniform annual exam” system for nonbanks that would focus on data that is routinely required by states.
AFSA asks CFPB to withdraw guidance on powerbooking; White House issues executive order on artificial intelligence; CFPB takes action against Citi for discriminating against Armenian Americans.
Fannie Mae and Freddie Mac revenues ticked up in the third quarter, but an increase in net expenses cut into profits. Those expenses included damages and interest awarded to shareholders in Fairholme v. FHFA. (Includes data table.)
The regulator’s plan to refocus the FHLBanks on housing finance may take some time to get underway. Changing the eligibility requirements for membership, though, doesn’t seem to be likely.