Proposed in January, the rule would ban the use of certain terms in contracts for consumer financial products or services that limit the rights of consumers.

The October 2023 final rule provided several major updates to the Community Reinvestment Act, but the rule’s implementation has been stalled due to a lawsuit by trade groups representing banks.

California’s new climate-disclosure reporting requirements are set to take effect next year and will change reporting standards for covered entities. The MBA is seeking some changes to the standards.

The American Fintech Council asked Acting CFPB Director Russell Vought to start making changes.

PHH claimed that the Supreme Court’s ruling to overturn Chevron deference made the CFPB’s RESPA regulations invalid as far as civil claims filed by mortgage borrowers.

Financial entities who fail to comply with the Home Mortgage Disclosure Act’s requirements are at risk of enforcement actions by a future Democratic administration or at the state level.

The Mortgage Bankers Association has some concerns regarding the latest rollout of updates to the mortgage call report.

The Mortgage Bankers Association continues to push back against most state CRA legislation that would apply to nonbank mortgage companies.

Federal regulation is needed for data privacy, earned wage access products and artificial intelligence, industry experts say. But states may end up carrying the ball on some of these issues plus others.

The next round of improvements is expected to go live during the third quarter and will include a new FBI identity verification requirement for some users.