In a court filing last week, the administration offered a revised plan to lay off nearly 53% of the bureau’s current staff, downsizing the agency from 1,174 employees to 556.
The trade group asked the bureau to raise the loan reporting threshold for HMDA and remove the quarterly reporting requirement. NCRC asked the CFPB to retain its current HMDA data collection efforts.
A senior official at NYDFS said the state regulator isn’t trying to fit buy now, pay later loans into an outdated regulatory box, but is trying to ensure the framework reflects the product as it actually exists today.
FDIC examiners said most TILA issues involved failure to provide consumers with disclosures. Issues with the Electronic Fund Transfers Act and the Flood Disaster Protection Act were also common.
Mortgage lenders in Massachusetts may be held liable for violating the state’s consumer protection laws if their pre-approval letters contain misrepresentations.
State legislators questioned the California Mortgage Bankers Association about its efforts to ensure compliance with the state’s temporary mortgage forbearance act for wildfire victims.
The CFPB had won a $7.9 million civil money penalty against now defunct Nationwide Biweekly Administration. Separately, a Ninth Circuit panel declined to rehear a case involving national preemption.
CFPB sent an ECOA proposal to OMB for review; Vought requests CFPB funding for the third quarter of fiscal 2026; Warren sends new letter to the CFPB regarding zombie mortgages; HUD launches investigation into a Washington SPCP.
A new executive order from President Trump aimed at increasing access to mortgage credit calls for changes to several of the CFPB’s mortgage rules and regulations.
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