The bureau held a press call last week discussing data on overdraft and NSF fees from two reports and outlining the steps it intends to take to reduce such fees. The reports show banks’ revenue from these fees is relatively stable, save for a significant drop in 2020.

Since a November congressional hearing, evidence that BNPL is here to stay has only grown. Consumer advocates are asking CFPB to step in and regulate the space.

Regulators issue rule mandating outreach in case of computer system breaches; CFPB announces four regulatory threshold adjustments; former CFPB Director Cordray considered for Fed supervision role; CFPB admits violating law in creating task force.

But acquiring that talent is going to be an enormous challenge for the bureau given that it cannot compete with compensation levels in the private sector.

The CFPB said it will apply heightened scrutiny to matters and decisions where a regulated entity has employed or retained the services of a former bureau employee.

The Government Accountability Office said the CFPB’s fiscal 2020 and fiscal 2021 financial statements were in accordance with generally accepted accounting principles.

The bureau is seeking public input on the data collected under HMDA and information to help it conduct an assessment of the rule.

Federal and state agencies are back to fully enforcing communication timing requirements found in Regulation X. However, they will consider the impact of COVID-19 when deciding supervisory and enforcement actions.

CFPB Director Rohit Chopra was open to feedback on the topic in his congressional hearings. Reactions to the rule have been mixed.

The CFPB needs to improve the effectiveness of its quality management program in order to strengthen its supervision activities, the Federal Reserve Office of Inspector General said in a recent report.