If the CFPB's proposed ban on medical debt on credit reports is established, the agency estimates that it could lead to approximately 22,000 additional home loans per year.

According to an analysis by Inside Mortgage Finance of data from the Home Mortgage Disclosure Act, Open Mortgage originated $480.9 million of mortgages in 2023, with FHA loans accounting for 38.6% of that volume.

The senator says the FHLBs, which will receive $7.3 billion in federal subsidies this year, paid a whopping $3.4 billion in dividends to members...

The researchers reviewed DOJ settlements with 17 banks and bank affiliates between 2008 and 2017.

“The Biden administration is committed to fostering innovation in the financial sector while ensuring that we protect consumers, investors, and our financial system from risks that new technologies pose,” said Nellie Liang, under secretary for domestic finance at the Treasury.

The pilot is limited to certain states and will only be offered through approved pilot lenders.

The CFPB reiterated that Regulation Z prohibits mortgages for principal dwellings from including “terms requiring arbitration or any other nonjudicial procedure as the method for resolving any controversy or settling claims arising out of the transaction.”

"The CFPB’s new rule will help law enforcement across the country detect and stop repeat offenders," said CFPB Director Rohit Chopra.

"Companies that are putting bad information on those reports, there needs to be some accountability for them and the ones who are assembling these reports," said CFPB director Rohit Chopra.

The Supreme Court delivered a unanimous opinion in Cantero v. Bank of America, sending the case back to a lower court.