Members of the Federal Reserve’s Community Depository Institutions Advisory Council have raised concerns that Section 1071 reporting requirements and Community Reinvestment Act modernization could hurt their ability to offer services.

The CFPB accused OneMain Financial of misleading consumers into signing up for optional add-on products and failing to refund interest charges when consumers canceled those products.

The CFPB cautioned consumers against storing funds in digital payment apps, citing lack of federal deposit insurance on such accounts.

CFPB settles with Indianapolis debt collector; CFPB extends data broker RFI comment deadline to July 15.

Several amicus briefs have been filed in defense of the CFPB’s funding structure in a case the Supreme Court will hear in its next term. Former and current members of Congress and academics said the bureau’s funding is consistent with historical practice.

Housing and mortgage markets could descend into chaos if bureau rules are invalidated by the Supreme Court, according to the Mortgage Bankers Association and other trade groups.

Compliance issues tied to HMDA reporting were the most common problem cited in Fed exams of banks in 2022.

A district court held that a borrower had provided enough evidence to show subservicer LoanCare had received a qualified written response and failed to respond as required by the Real Estate Settlement Procedures Act.

Banking industry trade groups said a CFPB research proposal on consumer choices related to “junk fees” doesn’t meet legal requirements. They are asking the Office of Information and Regulatory Affairs to reject the proposal.

Citizens Bank reaches $9 million settlement over credit card violations; American Bankers Association joins Texas lawsuit challenging Section 1071 Rule; House Democrats request briefing on 1071 rule.