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

The slowdown is part of a typical trend seen at federal regulators prior to a presidential election.

A week after the CFPB released proposed updates to Regulation X servicing standards, mortgage industry groups are seeking more comment time on the proposal.

The proposal, published by Andrew Davidson, seeks to create a platform where regulators, investors, mortgage servicers and more would share their own data and receive access to the broader pool of data, in an effort that could decrease costs and improve attempts to aggregate mortgage data.

The Supreme Court's ruling striking down Chevron deference could prompt legal challenges to the CFPB's rules and alter the CFPB's rulemaking going forward.

The proposal includes some aspects supported by both servicers and consumer advocates and some provisions that could see pushback from servicers.

In a major victory for the CFPB, the appeals court decision reverses a prior ruling by a district court, reinstating the ECOA lawsuit.

CFPB rules are likely to face challenges and the bureau may shift to using enforcement actions as a form of policymaking.

Only four proposed rules are on track to come from the CFPB by May 2025, according to the latest regulatory agenda.

The bureau found increasing instances of inaccurate reporting under the Home Mortgage Disclosure Act. Two lenders also faced fines recently.