The National Treasury Employees Union said the DC District Court should take up the review of the Trump administration’s revised layoff plan for the CFPB. However, the union said it opposes the administration’s 45-day timeline for the review.
With the Trump administration working under CRA requirements set in 1995, fair housing advocates asked states to step up and implement their own CRA laws.
As part of its ongoing “deregulatory agenda,” the CFPB said it is focused on reconsidering the Section 1071 and Section 1033 final rules and potentially pursuing a rulemaking under ECOA.
Adam Rust, director of financial services at the Consumer Federation of America, asked consumer advocates to continue fighting for fairness in the financial services industry.
A California district court upheld a plaintiff’s California Consumer Privacy Act claim against PHH Mortgage for sharing his personal information without his consent.
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A senior official at NYDFS said the state regulator isn’t trying to fit buy now, pay later loans into an outdated regulatory box, but is trying to ensure the framework reflects the product as it actually exists today.
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