Senate Democrats are seeking answers from Elon Musk, head of the Department of Government Efficiency, and CFPB Acting Director Russell Vought regarding potential financial conflicts.

Financial entities who fail to comply with the Home Mortgage Disclosure Act’s requirements are at risk of enforcement actions by a future Democratic administration or at the state level.

The Mortgage Bankers Association has some concerns regarding the latest rollout of updates to the mortgage call report.

The Mortgage Bankers Association continues to push back against most state CRA legislation that would apply to nonbank mortgage companies.

The bureau had alleged that the California-based short-term loan company disguised fee payments as “tips” or “donations.”

Court pauses open banking rule; legislation to defund CFPB; NMLS processing fees increase; Republicans introduce resolution to overturn overdraft rule.

All work at the CFPB, including supervision and examination activities, has ceased following an order by the bureau’s new acting director. Several rulemakings are also on pause.

The order, reached following a scheduling conference, also prohibits the administration from deleting data held by the CFPB and from transferring money from the bureau’s reserve funds.

Federal regulation is needed for data privacy, earned wage access products and artificial intelligence, industry experts say. But states may end up carrying the ball on some of these issues plus others.

The stay for now only applies to some lenders. But a pending court ruling in a Kentucky lawsuit against the bureau’s Section 1071 rule could stay compliance with the rule for all covered entities.