The idea behind the proposed pricing approach is to prevent market disruption and extend mortgage credit to consumers who are currently excluded due to strict underwriting requirements.

Section 1033 of the Dodd-Frank Act ensures consumers have access to, and the ability to leverage, data in their records. The question is how much data consumer-authorized third parties can access from bank accounts.

It’s possible the validity and outcomes of pending lawsuits involving enforcement actions will be fact-based and vary case by case, according to attorneys tracking the issue.

It is no longer “unfair and abusive” for lenders to make short-term or longer-term balloon-payment loans without reasonably determining that consumers will have the ability to repay the loans.

Democratic lawmakers believe the federal preemption asserted by the OCC will undercut state and local agencies’ efforts to protect homeowners from foreclosures.

Thomas Pahl fills a position that had been vacant since Brian Johnson left in February to return to the private sector.

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.