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 CFPB files lawsuit against companies providing student loan debt relief services; the CFPB encourages stakeholders to use its innovation programs to address regulatory uncertainties.
The Supreme Court said the president can fire the CFPB director at will but it refused to strike down the entire bureau. The court held that the for-cause provision can simply be severed from the rest of the statute.
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