The nomination had been expected for several weeks now and paves the way – quite possibly –for limitations on GSE pilot programs, loan parameters and secondary market liquidity.
CFPB Releases 2018 Financial Literacy Annual Report; Former CFPB Deputy Director Raj Date Joins a Fintech Company; Rep. Patrick McHenry Elected Top GOP Member of House Financial Services Committee.
The CFPB last week ordered State Farm Bank, a federal savings association in Bloomington, IL, to stop illegal credit reporting practices, without imposing a fine for its wrongdoings.
The CFPB last week released a fair lending report covering the agency’s activity in 2017. The report generally summarized the bureau’s past fair lending efforts and laid out its priorities.
Changing the name of the CFPB seems a small step, but it could cost financial institutions roughly $300 million to make behind-the-scenes changes, according to an internal CFPB document.