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.

William Kidwell, a Colorado-based mortgage originator, wants the CFPB to change six rules that he believes are stacked against smaller brokerage shops.

Banking trade groups believe the bureau’s plan to regulate customer service practices is an overreach and could drive consumer distrust in safe and sound financial institutions.

The CFPB is seeking feedback on its plan to revamp the process through which it collects information from credit card issuers on their products.

An appeals court recently held that if an agreement’s provisions delegate all disputes to an arbitrator, then claims under the Dodd-Frank Act over the agreement’s enforceability should not be considered by that arbitrator.

The head of the Consumer Data Industry Association said in an interview that the rapidly rising complaint count is due to “exogenous” factors. The trend will continue, he said, short of policy action to fix the issue.

Kaitlyn Cherry, licensing director and corporate counsel at Guild Mortgage, called for the creation of a temporary authority sponsorship acceptance period, among other improvements.

Trade groups representing banks used the bureau’s new petition process to ask the regulator to ensure nonbank data aggregators are supervised under the pending Section 1033 rulemaking.

In comments to the CFPB, consumer advocates argued credit card late fees were too high and harmed poorer consumers more. Bank trade associations said the fees are necessary to help issuers pay for their costs and an effective tool to foster healthy financial behaviors among consumers.