Banking trade groups contend that the Fair Credit Reporting Act shouldn’t be read to hold credit reporting agencies responsible for incorrect information if the data comes directly from a furnisher.

William Kidwell, a Colorado-based mortgage originator, wants the CFPB to change six rules that he believes are stacked against smaller brokerage shops.

Banking trade groups believe the bureau’s plan to regulate customer service practices is an overreach and could drive consumer distrust in safe and sound financial institutions.

The CFPB is seeking feedback on its plan to revamp the process through which it collects information from credit card issuers on their products.

An appeals court recently held that if an agreement’s provisions delegate all disputes to an arbitrator, then claims under the Dodd-Frank Act over the agreement’s enforceability should not be considered by that arbitrator.

The legislation would have allowed for foreclosed property auctions only after trustees carried out an equity sale on the property.

The Massachusetts Attorney General’s Office settled with the Chicago-based servicer, levying the penalty mostly through principal forgiveness.

The first two states to adopt the CSBS’ model standards for nonbank mortgage servicers diverged in some ways from the model.

The head of the Consumer Data Industry Association said in an interview that the rapidly rising complaint count is due to “exogenous” factors. The trend will continue, he said, short of policy action to fix the issue.

Kaitlyn Cherry, licensing director and corporate counsel at Guild Mortgage, called for the creation of a temporary authority sponsorship acceptance period, among other improvements.