Supreme Court strikes down Chevron deference; Fifth Circuit denies CFPB’s attempt to transfer venue; Alabama Supreme Court upholds borrower payments during foreclosure trials; CFPB resolves a 2023 lawsuit involving attempts to avoid payment of fines; Supreme Court rules in on use of administrative proceedings.

The bank recently committed $3 million to an appraisal diversity initiative and is engaged in various internal efforts to reform the appraisal industry.

The final rule on the use of automated valuation models in mortgage lending includes a standard that seeks to ensure compliance with nondiscrimination laws.

The rule has been in the works for 14 years.

In Georgia, investors who hold mortgages set for quick securitization will be exempted from the licensing requirements if they hold the loans for 14 or fewer days.

During hearings last week in Congress, CFPB Director Rohit Chopra addressed a number of issues involving the mortgage market.

CFPB Director Rohit Chopra said he believes the agency’s funding is in compliance with the appropriations clause.

Senate Republicans last week introduced legislation that would require the CFPB’s funding to be subject to the appropriations process in Congress.

The CFPB plans to finalize its personal financial data rights rule this October, Director Rohit Chopra informed lawmakers on Capitol Hill last week. He also highlighted the need for more oversight of technology companies.

The ABA is expecting the CFPB to finalize two rules — one on overdraft fees and another on nonsufficient funds fees — within the next few months.