The Trump administration claimed that federal courts have no authority to prevent it from carrying out its duties, while the NTEU argued that blocking a planned reduction-in-force at the CFPB is essential to ensure the agency still exists at the conclusion of the lawsuit.
The settlement, which didn’t include a civil money penalty or restitution, appeared to reflect the DOJ’s realigned view that Colony Ridge provided a haven for illegal immigrants. The CFPB, which originally filed the complaint with the DOJ, dismissed its claims against Colony Ridge.
A November plan to transfer the bureau’s active enforcement actions to the Department of Justice appears to no longer be in the works, according to an industry attorney.
The move clarifies that the Equal Credit Opportunity Act doesn’t prohibit lenders’ consideration of immigration status when evaluating credit applications.
Fed Chairman Powell said the investigation is a pretext and the real crux is the Fed's refusal to comply with President Trump's calls to lower interest rates.
After months of investigating Trump critics over allegations of mortgage fraud, FHFA Director Bill Pulte increasingly finds himself the target of investigations into possible episodes of misconduct and the misuse of power.
The administration’s firing of FHFA’s acting inspector general comes on the heels of the departure of several GSE executives and news that most of the ethics and internal investigations team at Fannie have been laid off.
Rocket Mortgage claims it had no authority to correct the alleged discriminatory appraisal connected to a refinance application. The lender said it expects to be vindicated.
CFPB proposal on ECOA being reviewed by OMB; NTEU drops one lawsuit against CFPB; ABA asks federal agencies to make sure OCC upholds a national bank preemption standard.