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.
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.
The CFPB is rushing to get certain rulemakings done this year as the presidential election looms. Most items on the CFPB’s to-do list have deadlines in the fall.
A recently issued interim final rule allows mortgage servicers to offer certain COVID-19-related loss-mitigation assistance without a complete borrower application.
In a new report, the CFPB’s Inspector General has recommended the bureau tailor its resources to monitor institutions based on risk and hire additional examiners.
The CFPB has sent out examination notices to mortgage servicers about their COVID-19-related practices, according to industry attorneys tracking the matter.
Technology experts will gather this fall to develop innovative solutions to improve consumer e-disclosures. This is the first in a series of “tech sprints” planned by the CFPB.
The CFPB issues interpretive rule for determining "underserved areas" under Regulation Z; the CFPB and the OCC to host joint, virtual innovation office hours on July 29 and 30.