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Inside the CFPB

December 2, 2024

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CFPB Set to Retreat From Chopra’s Aggressive Agenda

Going by Trump’s first term, the CFPB is expected to continue to regulate by enforcement, but isn’t likely to expand its jurisdiction into questionable areas. Read More

CFPB Boosts Enforcement, Funding in FY24

At the end of fiscal year 2024, the CFPB had 1,758 employees, up 5% from a year earlier and up 16.9% from the end of fiscal 2020. Read More

Fifth Circuit Clears the Way for Payday Lending Rule

The bureau’s payday lending rule is set to take effect March 30, 2025, after the Fifth Circuit denied a request for a rehearing on the case. Read More

CFPB Issues Final Rule on Supervision of Digital Payment Apps

The transaction threshold determining which nonbanks come under the bureau’s supervision has been drastically increased, to 50 million annual transactions from 5 million proposed. Read More

CBA Urges CFPB to Analyze Proposal on Overdraft Fees

If the overdraft rule is adopted as proposed, banks would materially reduce the amount of liquidity they are able to offer consumers, according to the Consumer Bankers Association. Read More

HSBC Partners With NCRC One Year After Redlining Allegations

A four-year partnership committed to expanding financial inclusion in low and moderate income, diverse and underserved neighborhoods will begin in January. Read More

NCLC Asks States to Cap APRs on Installment Loans

The National Consumer Law Center is urging states to restrict the annual percentage rate at 36% for loans with balances of up to $1,000 and lower limits for larger loans. Read More

Mortgage Servicer Prevails in Foreclosure Lawsuit

An Arizona district court determined that Sun West Mortgage Company and its foreclosure counsel didn’t violate the Truth in Lending Act or the Fair Debt Collection Practices Act in a foreclosure lawsuit. Read More

Other News in Brief

Maryland enacts new regulations governing shared-appreciation agreements; CFPB issues 2025 threshold adjustments. Read More

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