The Supreme Court said the president can fire the CFPB director at will but it refused to strike down the entire bureau. The court held that the for-cause provision can simply be severed from the rest of the statute.

The CFPB is rushing to get certain rulemakings done this year as the presidential election looms. Most items on the CFPB’s to-do list have deadlines in the fall.

A recently issued interim final rule allows mortgage servicers to offer certain COVID-19-related loss-mitigation assistance without a complete borrower application.

Few entities are likely to benefit from the proposal made under the Economic Growth, Regulatory Relief and Consumer Protection Act.

The CFPB issues interpretive rule for determining "underserved areas" under Regulation Z; the CFPB and the OCC to host joint, virtual innovation office hours on July 29 and 30.

The CFPB wants to replace the debt-to-income ratio limit with a price-based threshold in the general qualified-mortgage definition. The bureau also proposed extending the GSE patch until the effective date of a new QM definition.

The pilot program will provide customized advice to help financial institutions better understand their regulatory obligations. However, consumer groups said interpretations are better made via notice and comment.

The Congressional resolution to invalidate the “rushed out” CRA revamp is viewed as largely symbolic and unlikely to find support in the Senate.

Consumer advocacies claim the CFPB task force on consumer financial law does not serve a public interest and has violated the Federal Advisory Committee Act by operating behind closed doors.

Industry trade groups have criticized the CFPB for issuing guidance that is largely repetitive. They want the agency to fix disclosure issues regarding title insurance premiums.