Russell Vought is expected to remain at the bureau as a senior adviser following the conclusion of his tenure under terms set by the Federal Vacancies Reform Act.

Rise Economy, a California-based nonprofit, has threatened to take legal action to block the OCC and FDIC proposal to revise Community Reinvestment Act requirements.

California’s new Business and Consumer Services Agency, led by former CFPB Director Rohit Chopra, will crack down on corrupt practices, lift small businesses and assist with state enforcement efforts.

The court found that mortgage borrowers failed to adequately state claims alleging violations of RICO, RESPA and a state consumer protection law.

Mark Paoletta said under Trump-era leadership, the bureau is developing targeted educational materials for consumers and is working to become a source of “unbiased objective information” consumers can trust.

Chris Willis, a partner at the law firm of Troutman Pepper Locke, said any credit risk identified in the new guidance from federal regulators is likely to have already been considered by lenders.

CFPB sends Section 1033 proposal to OMB for review; court upholds Lakeland Bank’s redlining consent order.

At his nomination hearing last week, Brian Johnson said his decisions at the CFPB will not be influenced by that of his predecessor.

The draft CFPB Reform Act, which is backed by CFPB Acting Director Russell Vought and House Republicans, seeks to bring the agency under the appropriations process, among other reforms.

The bureau has called for feedback regarding the TILA-RESPA Integrated Disclosure rule, issues involving reverse mortgages and fee disclosure tolerance thresholds.