The company has been hit with $5 million in fines and redress, and must change its practices to be compliant with the CFPB's orders or face additional consequences.

PMIs say the tougher available assets standards won't impact their eligibility as approved insurers.

"It is likely to cause significant adverse consequences to banks and consumers, including causing the tightening of credit standards," the ABA said of the CFPB's proposal.

HELOCs can fall under the definition of a "credit card plan"  included in the Truth in Lending Act's offset provision, according to the appeals court.

The assets in the SPV include some type of service contracts, intellectual property, software and hardware.

Total complaints from users of financial services increased 25.9% on a quarterly basis to a record high of 604,174 in the second quarter of 2024.

Loose IT security controls could have made it possible for a malicious employee, or an external party with access to that employee's account, to gain full control of the FHFA network.

Any regulatory action resulting from the CFPB’s recent request for information must be grounded in the bureau’s statutory authority, the Mortgage Bankers Association said.

The CFPB said it is stepping in to stop harmful practices used in contract for deed financing that set up homebuyers to fail.

The Urban Institute does not believe either cost-saving avenue would come to fruition...