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.

The CFPB has issued a detailed process for submission of rulemaking petitions by members of the public. The move is aimed at increasing transparency and curtailing lobbying by former government employees.

Auto lending practices under scrutiny; fair lending testing bill; CBA wants CFPB to examine small fintechs; court grants interlocutory review of NCSLT-CFPB decision; EFTA compliance bulletin; interagency letter on unmet credit needs; comment on FTC settlement; PSLF waivers.