Lenders should work to reduce the Latino homeownership gap, according to Laura Arce, senior vice president for economic initiatives at UnidosUS said.

Compliance deadlines with the Section 1071 data-collection rule are set to start in July but could be postponed.

Issues relating to credit reports accounted for 86.6% of all complaints in 2024.

The bulk of the complaints submitted to the CFPB last year involved inaccurate information on credit reports. Transunion, Equifax and Experian, as usual, were the most-complained about companies. (Includes two data tables.)

CFPB Director Rohit Chopra made a reputation as an aggressive and active regulator, going after bank overdraft charges, credit card late fees and big nonbanks’ wallet apps.

Former CFPB Director Kathy Kraninger said with GOP control of the House and the Senate, it’s possible that the Trump White House will revamp the structure of the CFPB.

A potential slowdown of regulations and actions taken by the CFPB during the second Trump administration could alleviate regulatory pressure on financial service providers.

The Seattle-based bank attributed its decision to exit the mortgage business in part to burdensome CRA requirements. The bank received a “need to improve” CRA rating on its lending to low- and moderate-income borrowers. WaFd said it plans to appeal the rating.

Seth Frotman, general counsel and senior advisor to the director at the CFPB, expressed frustrations with courts for blocking the bureau’s efforts to apply existing laws to address modern and evolving problems.

A new report released by the bureau recommended several actions state regulators can take to “mirror” recent work done by the CFPB.