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Inside the CFPB

December 16, 2024

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Despite Calls for Elimination, CFPB is Likely Here to Stay

Though many financial companies have significant concerns about actions by the CFPB, the reforms brought in by the bureau are generally preferred, according to industry stakeholders. Read More

CFPB Nonbank Registry Compliance Causes Confusion

It has been two months since the CFPB’s nonbank repeat offender registry opened for registration, but still confusion remains among entities over whether they fall under the scope of the rule. Read More

Rocket Sues HUD Over Appraisal Bias Standards

One of the nation’s top mortgage lenders wants a federal court to confirm that lenders can’t interfere within independent appraisals, even if they are allegedly discriminatory. Read More

Fair Lending Will Remain a Focus for NCUA in 2025

The National Credit Union Administration’s Division of Fair Lending Supervision next year will focus on credit unions that have recently expanded into underserved areas. Read More

CFPB Issues Proposal to Bring Data Brokers Under FCRA

The proposed rule would classify data brokers as consumer reporting agencies when they sell certain sensitive consumer information. However, it is doubtful whether the proposal will move forward under Trump. Read More

CFPB Finalizes Rule to Cap Overdraft Fees

The final rule is at risk of being overturned by the Congressional Review Act under the incoming Trump administration. Trade groups representing banks have also filed a lawsuit against the final rule. Read More

Bankrupt Auto Loan Servicer Hit With $42.6M Judgment

The CFPB had sued Georgia-based USASF for illegal servicing practices that harmed borrowers with auto loans. Read More

Utah Court Denies Acima’s Request to Move CFPB Lawsuit to Texas

The court said Acima failed to establish that Utah is “inconvenient.” The court also rejected Acima’s argument under the first-to-file rule. Read More

Other News in Brief

CFPB settles with student lender; CFPB sues Comerica Bank; The bureau returns $1 billion to harmed consumers; OCC publishes updated UDAAP booklet; CFPB Ombudsman’s Office releases annual report; Texas court denies request to lift stay on the credit card late fee final rule. Read More

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