The way things stand today, those finalists include at least two industry veterans…

As a practice, IBM rarely says a word about Seterus...

The Garden State is following in the footsteps of Pennsylvania, which created a Consumer Financial Protection Unit last July and hired a former CFPB attorney to lead the initiative.

Is Bank of America doing a slow fade on mortgages?

The Community Home Lenders Association called for regulatory streamlining for smaller independent mortgage bankers in a comment letter to the CFPB in response to its request for information on enforcement and supervision. The CHLA, which claims to be the only national association that exclusively represents IMBs, said the bureau should reduce burdens and compliance risks faced by IMBs “through targeted CFPB exam and enforcement exemptions.” Under current law, every nonbank ...

In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”

Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...

States are dedicating more resources for consumer protection in financial services to fill the vacuum of a potentially less aggressive CFPB. New Jersey Attorney General Gurbir Grewal, D, recently said in a press release that he and Gov. Phil Murphy, D, will “fill the void left by the Trump administration’s pullback of the Consumer Financial Protection Bureau,” and create what they referred to as a “state-level CFPB.” Murphy will name Paul Rodriguez as the director of the New Jersey Division of Consumer Affairs ...

The nature of the CFPB is completely in the eyes of the beholder. In hearings on Capitol Hill last week, Acting CFPB Director Mick Mulvaney was grilled by Democrats while Republicans praised his efforts to reform the bureau. Mulvaney appeared before the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee last week to testify on the CFPB’s semi-annual report. The major changes he proposed included: giving Congress authority to approve ...

Staffers hired by Acting Director Mick Mulvaney saw major pay raises from their previous employment. The agency chief also asked Congress to change the pay system established by the Dodd-Frank Act. Since Mulvaney took over the bureau in November 2017, he has hired eight political appointees and four of them are paid more than $250,000 a year, according to salary records obtained by various media. “I can’t tell you the number of folks I know on the Hill, the number of folks I know in the White ...