A top CFPB official has defended the bureau’s proposed payday lending rule on Capitol Hill as state attorneys general weighed in to oppose the proposal, noting it will limit states’ ability to protect consumers.
CFPB Director Kathy Kraninger continues to build her team with new additions to the agency’s senior leadership team. Brian Johnson has been named as deputy director. Separately, Eric Blankenstein, a top enforcement chief at the bureau who was under fire for a racism-tinged blog, has resigned.
A federal appeals court has upheld CFPB's constitutionality. This means there is no circuit split on the issue, which would encourage the Supreme Court to take up the case.
The institute has called for full public release of multifamily lending data collected for 2018. Meanwhile, the CFPB said it will retire its HMDA explorer tool in the coming months.