Fitch Ratings raised concerns about the CFPB’s plan to move away from the debt-to-income ratio in defining a qualified mortgage. It believes the DTI ratio is a better predictor of borrower default risk.
More than a dozen briefs have been filed before the Supreme Court defending the CFPB’s constitutionality. State attorneys general told the high court that killing the bureau would harm states’ consumer protection authority.
CFPB updates HMDA small entity compliance guide; the bureau files a lawsuit against Citizens Bank for credit card dispute issues; industry and consumer groups seek a delay in risk-retention rule revision.
The court-appointed CFPB defender said the petition challenging the bureau’s structure is “remarkably weak.” According to him, there is no basis “to take the grave step of invalidating an act of Congress.”