Senate Democrats called on the CFPB to increase oversight of credit reporting agencies. The CFPB director, though, is skeptical of creating a government-run credit reporting agency.

FCC releases reassigned numbers database; CFPB sues pawnshops for MLA violation; CFPB official explains action against payment platforms.

In his first testimony to Congress as CFPB director, Rohit Chopra took aim at the agency he inherited, particularly the idea that larger firms get away without proportional punishment compared to smaller ones.

Mortgage-related gripes to the CFPB declined by 14% in the third quarter. Loan mods showed the weakest improvement, with complaints down 5%. (Includes two data charts.)

Not happy with the policy statement on abusiveness issued by his predecessor, the bureau’s new director said he wants to create a durable jurisprudence on the meaning of abusiveness.

The CFPB’s new director showed an interest in the question of qualified mortgage standards, but gave no indication as to whether the rule would see significant changes in the coming months.

Industry attorneys believe new guidance issued by the CFPB on the debt collection rule that takes effect at the end of the month could end up causing more stress for servicers.

On Feb.1, 2022, more than 32 million student loan borrowers will enter repayment for the first time in nearly two years.

In congressional hearings, CFPB Director Rohit Chopra doubled down on his concerns about “algorithmic redlining,” indicating that lenders can expect more robust enforcement on the practice.

The CFPB reiterated that, as COVID-19-related forbearance protections expire, it will be keeping close watch on servicers’ actions.