Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.
A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.
Federal banking regulators issued a final rule updating the Community Reinvestment Act regulatory framework. Most of its provisions will become applicable on Jan. 1, 2026, or later.
The Consumer Financial Protection Bureau floats a rule that would require financial institutions to make certain transaction and account information available to consumers and authorized third parties.
Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
A joint statement from the Consumer Financial Protection Bureau and Department of Justice said some uses of immigration status in credit decisioning may be prohibited by the Equal Credit Opportunity Act.
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