The Senate parliamentarian has advised Republicans that they cannot use the budget reconciliation process to eliminate the CFPB’s funding from the Federal Reserve.

Trade groups representing mortgage companies pressed the CFPB to retain some mortgage servicing standards temporarily established during the pandemic.

CSBS is working on prudential standards for nonbank servicers, a framework for safeguarding sensitive information at nonbanks, and standards to modernize supervision and regulation of money transmitters.

A district court determined that granting a motion to vacate based on the new arguments advanced by the CFPB would “be to undermine the finality of judgments.”

The financial services industry can move forward with open banking efforts even without standards established by the CFPB, according to industry experts.

Some of the bureau’s new enforcement and supervision priorities are lacking alignment, according to former CFPB executives.

The bureau is looking to pull back several adopted amendments that allowed for the public release of nonbanks’ supervisory designations.

Brody Gapp will focus on assisting financial entities with CFPB compliance, loss mitigation and employee poaching, among other issues.

CFPB moves Section 1071 compliance dates forward; ICE launches APOR Index; CFPB to continue lawsuit against Student Loan Pro; DOJ seeks to end Lakeland Bank consent order early; California’s CRA bill moves forward; CFPB acting enforcement director resigns; Georgia approves changes to residential mortgage licensing law; RiskExec updates software to comply with the NY CRA.

The CFPB has sent five regulations to the Office of Management and Budget for review, including the loan originator compensation and mortgage servicing rules.