By the end of the decade, the embedded finance industry could be bringing in close to $400 billion in revenue each year, according to Seth Frotman, general counsel at the CFPB.

All new covered orders must be submitted within 90 days of the order’s effective date, according to the bureau’s final rule on the registry.

The findings published in the CFPB’s latest supervisory highlights report are largely in line with previous bureau actions.

FTA sues CFPB over BNPL interpretive rule; DOJ reaches first redlining settlement with a credit union; CFPB files lawsuit against student loan provider; regulators update nonbank ransomware self-assessment tool.

The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term mortgage refinance, Kevin Stevens, a senior manager at the bureau, said at a Mortgage Bankers Association conference held in Washington, DC, last week.

Without an increase in NMLS processing fees, CSBS said it will incur nearly $133 million in losses over the next decade. The fee increases are poised to go into effect in March, but most industry participants won’t be impacted until fall 2025, according to CSBS.

The organization detailed the need for standards for customers with limited English proficiency.

The Securities Industry and Financial Markets Association and the Structured Finance Association have urged the U.S. Supreme Court to weigh in on the lawsuit involving the CFPB and student loan ABS.

In an amicus brief submitted by the bureau, the regulator distinguished the purposes of the Truth in Lending Act’s repayment disclosure requirements for open-end lines of credit, helping two banks prevail in court.

Consumer advocates and fintechs believe artificial intelligence can help improve fair lending practices, but federal regulators need to take action so lenders will follow suit.