The initial updates focus on easing user access to the system. The second phase of updates is expected in the second half of 2025.

The bureau said some companies may be in violation of the CFPA if they include language in their non-disclosure agreements that discourage employees from reporting illegal misconduct.

The proposed rule fails to provide a bright-line test for lenders and employers, an attorney with the Dorsey & Whitney law firm said.

Federal banking agencies reviewing regulations; CFPB countersues lease-to-own company; the bureau considers penalties against Equifax; lawsuit against CFPB credit card late fee rule to stay in Texas; lenders seek more time to comply with Section 1033 rule.

The evolving technology, while helpful, presents many risks and benefits, according to Bob Broeksmit, CEO and president of the MBA.

The decrease in the value of used vehicles poses a particular risk for ABS investors, rating services warn.

The final guidance covers reasons for seeking a reconsideration of value and addresses compliance obligations involving appraisals.

The guidance will help assist financial institutions in risk mitigation for deficient appraisals.

The pooling of about $100 million of SBA loans should provide economies of scale to smaller lenders.

The Seventh Circuit Court decision in CFPB v. Townstone Financial could broaden the scope of the Equal Credit Opportunity Act.