The Second Circuit Court of Appeals’ ruling last month deepens a circuit split on the constitutionality of the CFPB’s funding structure, which is set for hearing before the Supreme Court next term.

In a special edition supervisory highlights report, the CFPB revealed old and new ways in which mortgage servicers are attempting to collect unlawful fees from borrowers.

The CFPB said it expects servicers to proactively identify student loans that are discharged via standard bankruptcy orders.

Guilty plea on non-QM program; HUD restores discriminatory effects rule; new CRA rule soon; NY servicer must repay pandemic relief it didn’t issue; CFPB to redefine earned wage access products; mortgage broker indicted for tax fraud; CFPB reviewing MLO rules.

A ruling against the CFPB could reshape the bureau’s funding structure and call into question every action taken by the consumer watchdog since its inception in 2011.

Appellate courts are rejecting older interpretations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act, while the CFPB is pushing its own readings of them through guidance.

The bureau is seeking data on the auto lenders’ originations, servicing and repossessions dating back to 2018.

The Appraisal Foundation plans to revise ethics rule draft; CashCall faces $169 million in restitution and fines; companies not reporting credit card payment data; public benefits programs subject to fees; CFPB, FTC seek input on tenant background checks; DOJ redlining settlement.

The Supreme Court justices met in private last week to consider whether to take a case involving the CFPB’s funding structure and other authorities. A decision on the case will have major ramifications for the agency.

An appeals court agreed with the CFPB’s argument that its pre-paid rule doesn’t impose mandatory model clauses. Instead, it provides companies the option to use model language or other “substantially similar” wording.