In a show of bipartisanship, work on reforms in the credit bureau industry kicked off this week, with legislation circulating and the House Financial Services Committee’s hearing testimony from CEOs of three major rating agencies.
The Department of Veterans Affairs issued guidance on policies regarding cash-out refinancing loans on Feb. 15, the same day the rules were to become effective.
State regulators went on the offense last week, contending week contended that the Consumer Financial Protection Bureau lacks authority to create a regulatory fintech sandbox.
Federally regulated financial institutions must accept private flood insurance on loans secured by properties in special flood hazard areas, according to a partially approved inter-agency final rule.
The New York Department of Financial Services last week rejected Fidelity National Financial’s application to acquire control of Stewart Information Services’ NY-based title insurance company.
The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
The Supreme Court refused to hear a case challenging the constitutionality of the CFPB. The case could lead to more presidential power over the consumer watchdog.
The Consumer Financial Protection Bureau needs a systematic process to prioritize consumer risks and focus its resources to address them, the Government Accountability Office said in a new report.
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