Trade groups expressed concern that proposed changes to Rule 15c2-11 of the Securities Exchange Act could accidentally ensnare ABS.

The ratings service said a “selective, disciplined, transaction-specific approach” is why its single-asset/single-borrower portfolio outperforms ratings by other firms.

Tom Feltner, associate director of consumer policy at Americans for Financial Reform, said the changes will have a “chilling effect” on the number of people who are willing to seek help from the bureau on a wide range of issues — not just credit reporting errors.

The nomination comes seven weeks before the anticipated expiration of Acting Director Russell Vought’s time at the bureau.

Industry attorneys said the complaint portal changes improve the CFPB’s complaint process as a whole, while consumer advocates argue the changes discourage consumers from filing complaints.

The bureau called discussions with Bilt Technologies a “collaborative process” that has secured redress for consumers harmed by the fintech’s transition to a new bank partnership.

The trade group said a federal AI regulatory framework is needed to avoid a patchwork of costly, confusing and potentially contradictory compliance obligations.

Under certain circumstances, the bureau said lenders may be obligated to consider immigration status when conducting ability-to-repay determinations.

Three states have enacted legislation to prohibit denials of divorce- triggered mortgage assumptions. Similar statutes are likely to follow in other states.

With the CFPB reportedly revisiting its 2024 proposed Regulation X servicing rule, the American Bankers Association reminded the bureau of several revisions it should consider.