The new law addresses foreclosures on “zombie” second mortgages and creates new standards for subordinate mortgage servicers.

Key differences exist between the Equal Credit Opportunity Act’s and the Fair Credit Reporting Act’s adverse action notice requirements.

Other courts could also determine that the CFPB’s withdrawn guidance can still be considered in legal matters, according to attorneys at the law firm of Holland & Knight.

The bureau urged the court to convert the bankruptcy case’s filing to allow the regulator to investigate whether Synapse Financial Technologies violated the CFPA, and provide redress to harmed consumers.

The Senate parliamentarian has advised Republicans that they cannot use the budget reconciliation process to eliminate the CFPB’s funding from the Federal Reserve.

Trade groups representing mortgage companies pressed the CFPB to retain some mortgage servicing standards temporarily established during the pandemic.

CSBS is working on prudential standards for nonbank servicers, a framework for safeguarding sensitive information at nonbanks, and standards to modernize supervision and regulation of money transmitters.

The financial services industry can move forward with open banking efforts even without standards established by the CFPB, according to industry experts.

The bureau is looking to pull back several adopted amendments that allowed for the public release of nonbanks’ supervisory designations.

Brody Gapp will focus on assisting financial entities with CFPB compliance, loss mitigation and employee poaching, among other issues.