The industry was hoping the FHFA and the Treasury Department would roll back the restriction placed on the GSEs’ use of the qualified mortgage patch.

The CFPB has made it clear that it’s not buying income share agreement providers’ argument that their products are not loans and hence they don’t have to comply with consumer protection laws.

The payment provisions under the payday lending rule will become effective June 13, 2022. Attorneys suggest lenders with products covered under the small dollar rule begin revising policies and procedures.