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Inside the CFPB

July 5, 2022

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Regulatory Agenda Light on Mortgage-Related Issues

The CFPB’s spring regulatory agenda had only one mortgage-related item: automated valuation models. The bureau expects to issue a proposed rule on the matter in December. Read More

Qualified Mortgage Rules’ Future Remains Unclear

The CFPB could shake up standards for QMs, revising provisions established near the end of the Trump administration. Read More

U.S. Chamber of Commerce Lashes Out at Chopra

The business group has launched a media campaign targeting CFPB Director Rohit Chopra over his aggressive regulatory agenda. If left unchecked, Chopra’s actions will harm consumers and the economy, the Chamber of Commerce warned. Read More

States’ Laws Can Exceed Bounds of FCRA, CFPB Says

In an interpretive rule, the CFPB affirmed states’ ability to enforce fair credit reporting laws that reflect challenges and risks affecting their local economies and residents. Read More

CFPB Plans to Revisit Credit Card Late Fee Rules

The bureau plans to review a Federal Reserve immunity provision that safeguards credit card issuers from enforcement scrutiny if they set late fees at a particular level. Read More

Banking Groups Pan CFPB’s Extension of UDAAPs to Discrimination

The recent changes to the CFPB’s supervision manual that brought discriminatory conduct under its “unfairness” standard are unlawful, a coalition of banking trade groups argued in a new white paper. Read More

NCRC, Fintechs Seek Rule on Demographic Data Collection

The National Community Reinvestment Coalition and five fintechs have asked the CFPB to issue an interpretive rule on best practices in collecting borrowers’ demographic data to monitor their underwriting in context of fair lending. Read More

Other News in Brief

The CFPB pilots supervision on overdrafts, NSF fees; bureau terminates Payactiv’s sandbox order; the bureau is taking applications for advisory committees; CFPB analyzes impacts of credit card limit decreases; Chopra votes for FDIC deposit insurance fund premium hikes; bureau finalizes human trafficking credit reporting rule. Read More

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