Last year was a trying year for most lenders. Among publicly traded shops, Rocket’s Jay Farner was one of the highest paid CEOs in the land, topping Mat Ishbia at United Wholesale Mortgage.

A combination of internal mismanagement and lax regulation led to the failures of Silicon Valley Bank and Signature Bank, according to reviews by the Fed and the FDIC. The regulators plan to tighten regulation of banks, including a focus on interest rate risk.

Consumer complaints filed with the CFPB increased sharply in the first three months of 2023, driven by a jump in seven out of the nine complaint categories. (Includes two data charts.)

The CFPB’s efforts to combat redlining include a new emphasis on discriminatory targeting. The regulator’s argument for the application of ECOA in instances of reverse redlining is being questioned.

The CFPB issued an advisory opinion last week reinforcing that the Fair Debt Collection Practices Act includes protections against collections on time-barred debt, including second liens originated prior to 2008.

A new study has found that the California Consumer Protection Act increased California mortgage interest rate spreads — especially for banks — and contracted the supply of credit to low-income areas.

The CFPB and three other federal agencies issued a statement highlighting concerns about bias in automated systems. The CFPB is particularly concerned about home valuations, lending and marketing.

New APOR calculations; regulators help with LIBOR transition; CFPB puts credit reporting agencies on alert; data breach involving former CFPB employee; lender settles with Arizona AG.

FHFA has asserted that most of the changes to the GSEs’ loan-level pricing adjustment grids are risk based or meant to meet the GSEs’ capital requirements.

The chair of the Senate Banking Committee wants FHFA to examine the implications of the Federal Home Loan Banks becoming the lender of last resort for struggling financial institutions.