Nonbanks are especially vulnerable and at-risk in the absence of consistent federal regulation, according to panelists at the Conference of State Bank Supervisors’ mortgage symposium.

The move is unlikely to have much impact on states, according to industry attorneys.

According to industry insiders, there is room for state and federal regulators while also supporting the independence of federal agencies.

California’s new climate-disclosure reporting requirements are set to take effect next year and will change reporting standards for covered entities. The MBA is seeking some changes to the standards.

The Mortgage Bankers Association has some concerns regarding the latest rollout of updates to the mortgage call report.

The Mortgage Bankers Association continues to push back against most state CRA legislation that would apply to nonbank mortgage companies.

Federal regulation is needed for data privacy, earned wage access products and artificial intelligence, industry experts say. But states may end up carrying the ball on some of these issues plus others.

The next round of improvements is expected to go live during the third quarter and will include a new FBI identity verification requirement for some users.

A California law requiring interest to be paid on escrow account balances doesn’t “significantly interfere” with the powers of national banks, state regulators argue.

A new report released by the bureau recommended several actions state regulators can take to “mirror” recent work done by the CFPB.