Home equity investment products are “loans masquerading as obligation-free cash,” according to the National Consumer Law Center.

The CFPB is asking states to heighten their efforts to tighten data privacy protection and close gaps with federal laws.

The rule, required by the Dodd-Frank Act, will allow consumers to have greater control over their financial data.

Two trade groups representing banks filed a lawsuit the same day the CFPB released its final rule.

State regulators plan to move the One Company, One Exam effort out of pilot into full operation, beginning with larger mortgage companies.

The new dataset will help both regulators and mortgage companies, according to MISMO.

The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term mortgage refinance, Kevin Stevens, a senior manager at the bureau, said at a Mortgage Bankers Association conference held in Washington, DC, last week.

Consumer advocates and fintechs believe artificial intelligence can help improve fair lending practices, but federal regulators need to take action so lenders will follow suit.

The Conference of State Bank Supervisors urged the bureau to consult with individual states regarding their loss-mitigation requirements to ensure proposed changes don’t incorrectly preempt state protections.

With the bureau’s Section 1033 rule expected to be finished shortly, the regulator is interested in issuing additional rules on open banking, with one potentially focused on mortgages.