CFPB Director Rohit Chopra engaged in a live question-and-answer session last month, acknowledging banks’ concerns about nonbank coverage and liability flows.
The CFPB is committed to keep working to protect prospective applicants under Regulation B, its implementing regulation of the Equal Credit Opportunity Act, according to Patrice Ficklin, the bureau’s fair lending director.
The CFPB released a final rule implementing Dodd-Frank Act Section 1071, which requires financial institutions to collect and report data on their small business lending activities.
Two attorneys at Orrick shared strategies that mortgage lenders can use to defend themselves in federal redlining cases, including questioning the data analysis used to bring a case.
The CFPB’s proposed rule for an online registry of nonbanks underestimates the burden for institutions and overstates its value to the public and enforcement agencies, mortgage trade groups said in comments.
A majority of the witnesses testifying at a recent House subcommittee hearing voiced support for the Taking Account of Bureaucrats’ Spending Act, which would separate the CFPB from the Federal Reserve System and subject it to the regular appropriations process.
In a special edition supervisory highlights report, the CFPB revealed old and new ways in which mortgage servicers are attempting to collect unlawful fees from borrowers.
Eight Republican-sponsored pieces of legislation were attached to a recent hearing on CFPB reforms, including one that would convert the bureau’s leadership structure into a five-member commission.