In a new report, the Federal Reserve said nearly 60% of the compliance violations it observed at banks in 2022 were related to reporting under the Home Mortgage Disclosure Act.

In an Appraisal Subcommittee hearing this month, CFPB Director Rohit Chopra focused on the impact of appraisal management companies, including their market share and fees.

Members on the Federal Reserve and FDIC boards who opposed approving the revised Community Reinvestment Act standards said the new rule could put regulatory burdens on banks.

The CFPB proposed a rule seeking to supervise larger nonbank companies that offer services such as digital wallets and payment apps.

The Community Home Lenders of America has proposed a “uniform annual exam” system for nonbanks that would focus on data that is routinely required by states.

AFSA asks CFPB to withdraw guidance on powerbooking; White House issues executive order on artificial intelligence; CFPB takes action against Citi for discriminating against Armenian Americans.

Some 30 jurisdictions across states and territories now have a law or regulation permitting mortgage loan originators to work remotely.

Consumer criticisms related to mortgages declined in the third quarter of 2023, falling to the lowest level since the fourth quarter of 2011. (Includes two data tables.)

After a solo effort by the OCC in 2020 that was eventually rescinded, federal banking regulators jointly approved changes to requirements under the Community Reinvestment Act. The standards have largely been untouched since 1995.

Consumer advocates are both happy with aspects of the final rule and frustrated that regulators didn’t go further. Trade groups representing banks also see the final rule as a mixed bag.