Under the new rule, which will go into effect in October, a licensee’s NMLS number will serve as their only identification number.

Consumer complaints filed with the bureau in the first quarter declined on a sequential basis but was up from same period last year.

The bureau intends to fully exercise its supervisory and enforcement authority now that many financial institutions have developed more robust remote capabilities and demonstrated improved operations.

In what one law firm says will be a prelude to enforcement in the area, the bureau is seeking comments on industry use of AI.

Legal experts are mulling whether the bureau has the authority to do so. Implications.

Several industry and consumer groups believe the CFPB should stick with the July 1 mandatory compliance date for the new QM rules.

The new standards, which include capital requirements and corporate governance, for nonbank residential servicers may be finalized as early as May.

According to industry attorneys, a delay in implementation may provide the bureau an opportunity to propose substantive changes to the rule.

The CFPB’s warning to servicers: There is no time to waste, no excuse for in-action and no reason to be surprised by what is coming.

Despite government prohibitions, there are reports major multistate landlords are forcing people out of their homes, the two federal agencies noted.