The trade group said a federal standard that preempts state data privacy laws would set clearer expectations for the industry.

A new law in California aims to simplify mortgage matters following the divorce of borrowers; CFPB officially releases its regulatory agenda; final rule creating quality control standards for automated valuation models to take effect next month; a Kentucky district court stays small business lending rule until Dec. 1.

The proposed rule would create narrower standard the bureau must abide by in order to designate nonbanks for agency supervision.

Even if the Trump administration initiates a massive reduction-in-force at the CFPB, industry attorneys believe the bureau won’t shut entirely and will still be able to do its job.

The regulatory agenda included plans to re-propose several previously issued agency rules.

The bureau is seeking input on the proper understanding of who can serve as a “representative” making a request on behalf of the consumer and the optimal approach to the assessment of fees to defray the costs incurred in responding to a customer-driven request.

The Ninth Circuit Court of Appeals vacated a lower court’s dismissal and held that Unison’s equity-sharing agreement meets the definition of a reverse mortgage under the Washington Reverse Mortgage Act.

A district court dismissed some of the bureau’s claims against Experian, citing expiry of the statute of limitation.

While banking trade groups favor regulators’ proposal to rescind the 2023 CRA final rule, consumer advocacy groups warned the rescission will stunt “much-needed” updates to the CRA framework.

Nevada last month became the second state to adopt a model act that creates specific safe harbors for common mortgage modifications.