New legislation, which passed the California Assembly Banking and Finance Committee last week, would create “duplicative and sometimes contradictory requirements” for the mortgage industry when viewed alongside federal rules, industry groups warned.

CFPB advisory committees to meet May 1; borrowers with DTI ratios exceeding 43% barred from California Housing Finance Agency programs; forbearance and foreclosure requirements in Massachusetts.

The CFPB provides guidance for consumers to protect finances; Democratic senators introduce legislation to prohibit negative credit reporting; federal regulators encourage responsible small-dollar lending.

The Supreme Court justices hearing oral arguments in the CFPB constitutionality case appeared divided, which means any sweeping change to the consumer watchdog is unlikely, according to industry attorneys.

The CFPB seeks legislation to establish a reward program for whistleblowers, who could be tipped up to $10 million for providing original information that leads to a successful enforcement action.

Legislation was introduced in the House to prohibit credit bureaus from creating and selling trigger leads. Brokers support the bill.

More than a dozen briefs have been filed before the Supreme Court defending the CFPB’s constitutionality. State attorneys general told the high court that killing the bureau would harm states’ consumer protection authority.

The House of Representatives greenlighted a package of bills aimed at overhauling the credit reporting system. The legislation, however, has a dim future in the Senate.

Important mortgage regulatory changes and robust examinations of financial institutions are on the consumer watchdog’s 2020 agenda, but all decisions are up in the air with the battle over the bureau’s constitutionality looming in court.

Mortgage industry groups have urged the Supreme Court to choose a narrow remedy approach if the CFPB’s leadership structure is found unconstitutional, in order to prevent market disruption.