The “discussion draft” from Rep. Maxine Waters, D-CA, seeks to establish a federal valuation agency, which would take over The Appraisal Foundation’s role in setting valuation standards and appraiser criteria.

The bill would render pre-dispute arbitration agreements and class-action waivers relating to consumer financial products and services invalid and unenforceable.

Illinois District Court Judge Elaine Bucklo found that the plaintiff had no evidence that Bank of America had engaged in an equity-stripping scheme, much less one that targeted minority borrowers.

Should the CFPB have a say in bank M&As? Bankers will tell you no, but a new bill introduced on Capitol Hill opens up such a possibility.

Senate bill seeks to reward whistleblowers; CFPB examines complaints based on census tracts; new members appointed to CFPB advisory boards and councils.

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.

A more “nuanced approach to penalty calculation” by an appeals court will have important ramifications for both litigated cases and settlements in which the CFPB seeks the maximum applicable penalty amount, according to Mayer Brown attorney Ori Lev.

One of Seila Law’s arguments was that the CID cannot be ratified because the applicable three-year statute of limitations had expired. The court, however, said the time bar only applies to lawsuits.

While Republicans and Democrats continue to bicker over a second COVID relief package, industry groups warned that further halting of negative credit reporting may be disruptive to the market.

California’s plan to create a state-level CFPB back on the table; NCLC calls for prohibition of collection of all time-barred debts; Mr. Cooper nears settlement with the CFPB.