A recent Third Circuit ruling that asset-backed securities are “covered persons” subject to the CFPB’s authority under the Consumer Financial Protection Act could change the regulatory landscape for ABS.

Many mortgage brokers failed to satisfy a two-part test that determines whether compensation they received from a lender is permissible under the Real Estate Settlement Procedures Act.

As part of the settlement, loanDepot has agreed to undertake extensive appraisal policy changes. The lender also agreed to make payment of an undisclosed sum to the plaintiffs in the lawsuit.

The bureau plans to hire more technologists, issue policy guidance for law firms and provide research on emerging technologies in the coming months.

Trade groups representing depositories are urging the CFPB to drop a proposed rule that will curb overdraft fees charged by large banks.

The bureau is working to understand how video games can become a haven for scams, fraud, financial losses and unanticipated purchases that can deplete a family’s real-world financial assets.

MV Realty argued the CID is outside the CFPB’s jurisdiction because the company does not offer consumer financial products or services.

Lawsuit against CFPB’s credit card rule to stay in Texas; CFPB has no comment on allegations involving UWM, mortgage brokers; the bureau plans to release a credit card comparison shopping tool; ABA and other trade groups urge the CFPB to drop an auto data request; CFPB issues warning on false advertising used in remittance transfers.

The U.S. Court of Appeals for the Third Circuit held that National Collegiate Student Loan Trust student loan ABS are covered persons subject to the CFPB’s authority under the Dodd-Frank Act.

The circuit court held that the ABS trusts are covered persons subject to the CFPB’s authority under the Dodd-Frank Act. The lawsuit could have a major impact on the broader securitization market, the Structured Finance Association warned.