The CFPB plans to use its authority over credit card providers to apply to buy now, pay later providers. The move could face a legal challenge.

Currently, banks charge an average of $35 for overdraft loans, raking in billions of dollars per year. The CFPB proposed a safe harbor for overdraft loans that would be as low as $3.

Illinois delays vote on CRA regulations; FCC closes lead generator loophole; Biden vetoes bill disapproving 1071; CFPB adjusts asset thresholds under HMDA, TILA; bureau issues report on overdraft fees; CFPB shutters medical debt collector.

MBA’s advocacy arm tells members to oppose Illinois CRA rule draft; CFPB fines small-dollar lender $15 million for consent order violation; CFPB reverses course on UDAAP examination manual changes.

A split among circuit courts prompted the Supreme Court to take up a case involving banks and mortgage escrow accounts. The dispute centers on federal preemption of state requirements for financial institutions to make interest payments on funds in mortgage escrow accounts.

Annual inflation adjustments tied to TILA; CFPB reviews 2022 HMDA data; amicus brief in credit report dispute lawsuit; CFPB touts results from complaint database.

Attorneys recently highlighted non-compliant behavior among mortgage loan originators, including their usage of social media.

A CFPB proposal to set ability-to-repay requirements for PACE lending has support from mortgage lenders. However, PACE lenders and eight Republican state attorneys general have warned the proposal would lead to the end of PACE lending.

The consent orders related to Bank of America’s practice of charging repeat nonsufficient funds fees, denying rewards to credit card consumers and opening unauthorized credit card accounts.

In recent amicus briefs, the bureau argued that statutes of limitations are subject to equitable tolling and a loan’s exposure to the Truth in Lending Act is not based solely on contractual language.