Senators Seek Data on CFPB Oversight of Student Loan Servicers; House Financial Services Committee Approves Waters’ CFPB Bill; Utah Creates a Regulatory Sandbox for Fintech Firms; CFPB Settles with Online Lead Aggregator.
The public release of the significantly expanded loan-level data reported by lenders has sparked fear among industry participants of increased scrutiny from regulators and public interest groups.
CFPB Releases Small Entity Compliance Guide for Payday Rule; CFPB Updates List of Rural and Under-served Counties; CFPB Seeks Assistant Director for the Office of Regulations.
In a rather unusual move, the CFPB earlier this month released written guidance to clarify certain aspects of the integrated mortgage dis-closure rule. This left many industry watchers looking at clues as to whether it signals a change in the agency’s attitude towards written guidance.
Democratic lawmakers recently introduced a bill to both chambers of Congress to repeal the partial exemption granted last year to smaller institutions from certain mortgage reporting requirements.
The CFPB appears to have shifted away from addressing lending discrimination via enforcement actions, according to the bureau’s first semi-annual report to Congress under Director Kathy Kraninger. The report covers bureau activities from April 1, 2018, to Sept. 30, 2018.