In particular, industry groups like the idea that third parties, including trade associations, can submit advisory opinion requests on behalf of companies, but consumer groups have their doubts.
Brian Johnson, who was deputy director of the CFPB until recently, has called on the agency to rescind a 2015 bulletin that essentially killed marketing services agreements.
The purpose of the CFPB’s prioritized assessments is not to find violations, but to assess risks and to have a supervisory dialogue with the institution, according to bureau officials.
Democratic lawmakers have called for the resignation of CFPB Director Kathy Kraninger over the bureau's handling of the response to the coronavirus pandemic, particularly its oversight of mortgage servicers.
More than a dozen Democratic senators, led by Sen. Sherrod Brown, OH, have urged acting Comptroller Brian Brooks to confirm the OCC’s fair lending responsibilities.
It’s possible the validity and outcomes of pending lawsuits involving enforcement actions will be fact-based and vary case by case, according to attorneys tracking the issue.
The CFPB is investigating Rocket Homes, the home search platform and broker referral network of Quicken Loans, for violations of the Real Estate Settlement Procedures Act, according to a recent S-1 filing.
According to witnesses testifying at a House hearing, the CFPB appears to be offering regulatory leeway to mortgage servicers but doing little to protect consumers’ interests.
The CFPB is devoting half of its supervisory resources to assessing industries that pose the most risks to consumers during the pandemic, including mortgage servicing.
The Supreme Court has left to the Ninth Circuit Court to decide whether the civil investigative demand that was the core of Seila Law’s argument could be enforced.
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