The Supreme Court wants the Second Circuit Court of Appeals to conduct a nuanced comparative analysis of whether state consumer protection laws apply to national banks.
Since September 2022, the Federal Reserve has been in a deficit and has still continued to fund the CFPB, a problem for the legality of the bureau’s funding, according to Hal Scott, a Harvard Law professor.
High debt-to-income ratio remained the largest denial reason for purchase-mortgage applications in 2023, while credit history issues moved into the top spot for denials of refinances.
Credit reporting inaccuracies are having a major impact on low-income consumers who are trying to find housing, according to participants at a recent CFPB Consumer Advisory Board Meeting.
The Mortgage Bankers Association said a constitutional loss would have invalidated the bureau’s previous rules and caused severe consequences for single-family and multifamily mortgage markets.