How the bureau delegates on rulemaking has changed in recent years under Rohit Chopra, according to John Tonetti, former senior policy analyst in the Office of Supervision Policy.
Supreme Court strikes down Chevron deference; Fifth Circuit denies CFPB’s attempt to transfer venue; Alabama Supreme Court upholds borrower payments during foreclosure trials; CFPB resolves a 2023 lawsuit involving attempts to avoid payment of fines; Supreme Court rules in on use of administrative proceedings.
The CFPB plans to finalize its personal financial data rights rule this October, Director Rohit Chopra informed lawmakers on Capitol Hill last week. He also highlighted the need for more oversight of technology companies.
Pete Mills, a senior vice president at the Mortgage Bankers Association, said the registry is an “unnecessary and redundant move.” The final rule requires nonbanks to report to the CFPB any government or court orders penalizing them for violations of consumer protection laws.