The CFPB’s new director showed an interest in the question of qualified mortgage standards, but gave no indication as to whether the rule would see significant changes in the coming months.
Industry attorneys believe new guidance issued by the CFPB on the debt collection rule that takes effect at the end of the month could end up causing more stress for servicers.
In congressional hearings, CFPB Director Rohit Chopra doubled down on his concerns about “algorithmic redlining,” indicating that lenders can expect more robust enforcement on the practice.
CFPB Director Rohit Chopra raised concerns about how big technology companies operate their payments platforms. The regulator is also looking into risks posed by cryptocurrency.
New York to apply CRA standards to nonbanks; CFPB announces 2022 regulatory thresholds under TILA; CFPB issues advisory opinion on mistaken identity matching.
JPay, a company that helps the government distribute money to people at the end of their prison sentences through debit cards, charged consumers fees to access their own money, the bureau said in its complaint.