Smaller nonbanks don’t have the economies of scale to monitor how the CFPB might deviate from state interpretations of federal consumer mortgage rules and regulations, the Community Home Lenders Association said in a letter to the CFPB.

Senior staff from across federal agencies, including the CFPB, have criticized the Appraisal Foundation's proposed changes to professional appraisal practices for not adequately addressing discrimination in the appraisal process.

While industry trade groups want fewer companies and products to fall under the scope of the proposed small-business lending data collection rule, consumer advocates mostly want the opposite.

The selection of survey participants will be based on the region, product line and entity type and will remain confidential, the CFPB said.

HMDA filing period opens; CFPB issues medical debt bulletin; CFPB sues debt collectors; CFPB files amicus brief in MLA lawsuit; OIG releases quarterly work plan.

The banking industry and consumer advocacy groups want regulators to ensure big tech companies operating payment-processing systems provide protections similar to those offered by the banking sector.

The latest CFPB supervisory highlights report found violations in mortgage servicers’ handling of forbearance under the CARES Act, which examiners said amount to unfair or deceptive acts or practices.

The CFPB needs to ensure its staff know when to issue a consumer compliance rating to nonbanks and the criteria for selecting the examination. Also, the bureau needs to expand its examination workforce.

Federal and state agencies are back to fully enforcing communication timing requirements found in Regulation X. However, they will consider the impact of COVID-19 when deciding supervisory and enforcement actions.

CFPB Director Rohit Chopra was open to feedback on the topic in his congressional hearings. Reactions to the rule have been mixed.