Last month’s appeals court decision that the CFPB’s funding structure is unconstitutional has created a lot of uncertainty.

An executive at tech vendor Stavvy said the CFPB, instead of acknowledging the work done by servicers during the pandemic, was focusing on one or two servicers whose response time may have lagged.

Chopra says he wants “to more clearly communicate the agency’s expectations..."

While CFPB Director Rohit Chopra is looking to simplify rules and issue more guidance to address uncertainties, some industry participants are skeptical the agency will follow through.

The CFPB is looking to hire roughly 25 tech-savvy employees to aid in supervision and enforcement. The positions to be filled range from data scientists to user experience designers.

The consumer watchdog is considering making nonbank financial institutions “register” with the agency. Details? Not many.

The new office, which replaces the Office of Innovation, will broaden its focus to include research and policy oriented at identifying and addressing obstacles to competition.

Although CFPB Director Rohit Chopra’s tenure so far has been unusually quiet on the mortgage front, industry attorneys and executives said other actions indicate there’s enforcement on the horizon.

The bureau received just five comment letters on its proposed alterations to in-house adjudication procedures.

Compared to fiscal year 2020, complaint investigations have returned to and even improved previous processing times. But the number of complaints appears to be reversing a general downward trend.