The Trump administration argued that a majority panel of the court correctly concluded the National Treasury Employees Union cannot bring an Administrative Procedure Act claim challenging an “entirely nonbinding” purported decision to close the CFPB.
Contrary to the Trump administration’s statements in court, CFPB Acting Director Russell Vought said the bureau will be shut down within the next two to three months.
The Mortgage Bankers Association is concerned that New York’s Community Reinvestment Act plans will place restrictive limits on CRA credit for purchased loans.
While trade groups representing banks are seeking a major overhaul of the current rule, fintechs said the rule preserves the principle that financial data belongs to consumers and not banks.