The bureau also has dropped pursuit of two rulemakings under the Home Mortgage Disclosure Act. One concerns the data points lenders must report and another is related to the public disclosure of HMDA data.

Not only did it cause a loss of expertise, but it also led to a drop in enforcement actions by the consumer watchdog.

Rohit Chopra’s nomination is in a holding pattern. Meanwhile, the CFPB is losing two high-profile enforcement attorneys and the DFPI its commissioner.

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.