CFPB Director Rohit Chopra has directed bureau staff to look into possible rules for buy now, pay later products in five areas.

While the CFPB has no plans to restrain the use of forced arbitration clauses, Director Rohit Chopra is open to the idea.

The CFPB is hiring for the technical implementation of the project, and vendors are introducing compliance products.

Rep. Maxine Waters, D-CA, introduced a bill this month to vastly expand how much data financial institutions report to receive their Community Reinvestment Act ratings. The bill would mandate negative rating credit for any known discriminatory behavior.

Researchers have found that as nonbank mortgage lenders increase their market share in a county, the frequency of mortgage-related complaints filed with the CFPB decreases.

The CFPB said the company hadn’t met any of its self-imposed deadlines to provide information regarding how it handles consumer disputes. Block operates popular peer-to-peer payments service Cash App.

Attorneys for law firm Garris Horn said lenders should take certain steps to protect themselves against redlining accusations by regulators, recommending lenders virtue signal more often.

The CFPB said it would no longer tolerate nursing homes requiring caretakers to take on a prospective nursing home resident’s costs of care as a condition of admission.

Chuck Cross of the Conference of State Bank Supervisors said the new eligibility standards jointly issued by the Federal Housing Finance Agency and Ginnie Mae for nonbank mortgage companies could spur updates to harmonize model standards for states.

Banking trade groups contend that the Fair Credit Reporting Act shouldn’t be read to hold credit reporting agencies responsible for incorrect information if the data comes directly from a furnisher.