CFPB Director Rohit Chopra has directed bureau staff to look into possible rules for buy now, pay later products in five areas.

While the CFPB has no plans to restrain the use of forced arbitration clauses, Director Rohit Chopra is open to the idea.

The CFPB is hiring for the technical implementation of the project, and vendors are introducing compliance products.

Rep. Maxine Waters, D-CA, introduced a bill this month to vastly expand how much data financial institutions report to receive their Community Reinvestment Act ratings. The bill would mandate negative rating credit for any known discriminatory behavior.

CFPB ending compliance assistance sandbox, no-action letters; 2021 new HMDA analysis; All American Check Cashing settlement falls through; CFPB redressing over 8,000 consumers in debt collection case; CFPB, FTC reaffirm strong FCRA furnishing requirements; FTC, California’s DFPI enforce against alleged mortgage relief scam.

The National Community Reinvestment Coalition criticised the growing practice among lenders of not collecting race and ethnicity data under HMDA, saying 23% of listed loans now lack the information.

Researchers have found that as nonbank mortgage lenders increase their market share in a county, the frequency of mortgage-related complaints filed with the CFPB decreases.

The CFPB said the company hadn’t met any of its self-imposed deadlines to provide information regarding how it handles consumer disputes. Block operates popular peer-to-peer payments service Cash App.

Attorneys for law firm Garris Horn said lenders should take certain steps to protect themselves against redlining accusations by regulators, recommending lenders virtue signal more often.

The two trade groups want the California Privacy Protection Agency to clarify what behaviors are prohibited under its proposed data privacy and security rules.