Contrary to the Trump administration’s statements in court, CFPB Acting Director Russell Vought said the bureau will be shut down within the next two to three months.

The Mortgage Bankers Association is concerned that New York’s Community Reinvestment Act plans will place restrictive limits on CRA credit for purchased loans.

While trade groups representing banks are seeking a major overhaul of the current rule, fintechs said the rule preserves the principle that financial data belongs to consumers and not banks.

The trade groups want the Supreme Court to intervene and correct a lower court’s ruling that creates uncertainty regarding Fair Housing Act liability in the mortgage industry.

The financial technology company was accused of overcharging servicemembers and their dependents, and refusing to allow customers to exit its membership programs and stop paying monthly fees.

Mortgage compliance dataset is nearing implementation; CFPB ends consent order with Citibank three years early.

A CFPB official at a recent industry conference said the bureau is set to resume examinations within weeks. In April, the bureau said it would shift its supervision activities to depository institutions.

The National Treasury Employees Union argued that if the decision of a three-judge panel is allowed to stand, the CFPB will be eliminated, and the impact will not be limited to the bureau.

The Conference of State Bank Supervisors is working on building common standard examination programs for the states to use as federal enforcement activity diminishes.

The government shutdown will likely primarily impact the bureau’s staffing levels, according to industry attorneys.