The Conference of State Bank Supervisors in a new white paper encourages nonbank lenders to self-report violations to examiners and build a strong compliance culture.

The former CFPB fair lending chief may have abused his authority in dealing with a controversy tied to his racially charged writings more than a decade ago.

The CFPB will allow the GSE “patch” to expire as scheduled in January 2021. Industry stakeholders demand a transition plan to avoid a disruption in the market.

Equifax agreed to pay up to $700 million to settle federal and state claims regarding its massive 2017 data breach. Consumers can file claims to receive cash reimbursement of up to $20,000 per consumer.

The Government Accountability Office has recommended the CFPB inform the credit reporting agencies its supervisory expectations to help them better comply with the law. Efforts to reform the current credit reporting system continue in Congress.

The CFPB updated its 2016 advisory notice on elder financial abuse. Though the recommendations are voluntary, companies that fail to comply might become targets of enforcement actions, attorneys warned.

Lawmakers are seeking ways to better understand and regulate the use of alternative data in underwriting. Asking for express consumer consent and creating sandboxes are considered.

While industry groups support the CFPB’s plan to review rules that have significant economic impact on small entities, consumer groups suggest the bureau restrict the plan.