Trade groups representing banks used the bureau’s new petition process to ask the regulator to ensure nonbank data aggregators are supervised under the pending Section 1033 rulemaking.

In comments to the CFPB, consumer advocates argued credit card late fees were too high and harmed poorer consumers more. Bank trade associations said the fees are necessary to help issuers pay for their costs and an effective tool to foster healthy financial behaviors among consumers.

Federal Reserve investigation and oversight staffers shared advice for compliance staff at firms pursuing mergers and acquisitions.

Interpretive rule outlines digital marketer liability; CFPB fines “no overdraft” fintech for overdrafts; senators followup on CFPB’s U.S. Bank enforcement; bureau warns of consumer commerce data misuse; VantageScore stops reporting medical debt; NMLS seeks disclosure question feedback.

A bill brought by Democrats that would allow consumers to require the consideration of alternative data such as rent and utility payments in underwriting their mortgage recently cleared the House Financial Services Committee.

Financial issues at Bed Bath & Beyond and Tuesday Morning could lead to performance problems in commercial MBS.

Trade groups are generally bullish on the new proposed CRA rules but have asked for changes in areas where they saw added regulatory burden.

A study by the European Central Bank found evidence that rating services respond to their competitive environments by either inflating ratings or altering the strictness of their rating standards.

Various tech developments are helping to improve operations in the MBS market. Digital mortgages, blockchain and loan-level disclosures are areas of particular interest.

Lenders have already priced in a recession, economists said, forecasting mortgage rates to keep moving sideways, despite the recent interest rate hike by the Federal Reserve.