CFPB Updates Reference Chart for 2019 HMDA Data Collection; CFPB Sued for Withholding Records on its Decision to Stop Military Lending Act Supervision; CFPB Clarifies Participation in "Disclosure Sandbox."

Congressional lawmakers are placing credit bureau reform in the spotlight with a hearing scheduled before the House Financial Services Committee this month.

Republican lawmakers want the CFPB to be led by an independent inspector general appointed by the president.

The CFPB is seeking a legislative fix to give it clear authority to supervise institutions to ensure compliance with the Military Lending Act.

The House Financial Services Committee will target White House acting Chief of Staff Mick Mulvaney over his previous role as the interim head of the CFPB, said Maxine Waters, chairwoman of the HFSC, one of the most powerful House committees.

The Community Mortgage Lenders of America has asked the CFPB to exempt smaller independent mortgage bankers from examinations or audits. The CFPB currently has active examinations for IMBs.

Democrats captured a majority of state attorney general seats in elections earlier this month, which will likely increase state-level litigation and multistate enforcement activity, said attorneys.

The results of the 2018 midterm elections are sure to have implications for the CFPB. The questions are what and to what extent. One thing is almost for sure: the CFPB will have a new director – Kathy Kraninger – next year, because Senate Republicans netted three more seats, a comfortable 54-46 margin. “We will see a new leader at the CFPB in the next year and it will be interesting to see the interaction of that CFPB leadership with Congress ...

Former CFPB Director Loses in the Ohio Governor’s Race. Former CFPB Director Richard Cordray lost in the Ohio governor’s race last week. Republican Attorney General Mike DeWine led a GOP sweep of statewide nonjudicial offices. In his campaign, Cordray boasted of his record reining in Wall Street during his tenure at the CFPB. He worked as the CFPB director from its inception until 2017, when he quit to run for governor of the Buckeye State [Includes four briefs] ...

The CFPB will focus its rulemaking efforts on implementing directives from the Dodd-Frank reform act over the next 12 months, according to the agency’s latest rulemaking agenda.