Chopra, an FTC commissioner and former student-loan watchdog at the CFPB, has been nominated to lead the agency. Should mortgage bankers worry?

Consumer advocacy groups are hoping their recent lawsuits have set the stage for the Biden administration to overturn lax Trump-era rules.

The CFPB added four new hires to its executive lineup. Most are lifelong public servants and hail from other federal and state agencies.

Rep. Maxine Waters urges CFPB leadership not to finalize any “midnight” regulations; Upstart receives no-action letter; CFPB brings lawsuits against online lender LendUp Loans and debt-relief service provider DMB.

Much of the conversation over the past few weeks following the election of Joe Biden to the White House has focused on the bureau’s mortgage-related actions.

The CFPB’s latest financial report reveals a 9.4% increase in the agency’s spending in fiscal year 2020 driven by a 5.2% growth in its workforce.

One of Seila Law’s arguments was that the CID cannot be ratified because the applicable three-year statute of limitations had expired. The court, however, said the time bar only applies to lawsuits.

Names of possible successors to Kathy Kraninger include two from Sen. Elizabeth Warren’s inner circle: Rep. Katie Porter and FTC Commissioner Rohit Chopra.

The CFPB has created a new office within the supervision, enforcement and fair lending division to assign cases to the enforcement office. Critics say the change will weaken the bureau’s enforcement power.

Industry experts believe CFPB Director Kathy Kraninger’s job may be on the line if Joe Biden wins the presidential election. A few ongoing rulemakings also could be in trouble.