An appeals court affirmed dismissal of enforcement claims brought by the CFPB because the bureau repeatedly refused to follow court instructions to answer questions in depositions.
During hearings this month, Republicans said a recent data breach at the CFPB resulted from poor cybersecurity practices. They also complained the agency took too long to inform Congress of the problem.
Republicans in the Senate and House pressed CFPB Director Rohit Chopra on his authority to issue informal guidance that they said created new obligations for regulated firms, as well as other issues.
Banking industry trade groups said a CFPB research proposal on consumer choices related to “junk fees” doesn’t meet legal requirements. They are asking the Office of Information and Regulatory Affairs to reject the proposal.
The Appraisal Foundation updates appraisal standards; the CFPB will distribute $22 million among debt relief scam victims; CFPB Inspector General expresses opposition to legislation about his office.
Rep. Patrick McHenry, R-NC, has threatened to use the Congressional Review Act to prevent implementation of the CFPB’s new reporting requirements on small business lending.
The CFPB is facing management challenges in reforming its information security practices, workforce support programs and in embracing new technology and skills in supervisory and enforcement activities.
CFPB Director Rohit Chopra engaged in a live question-and-answer session last month, acknowledging banks’ concerns about nonbank coverage and liability flows.
The Second Circuit Court of Appeals’ ruling last month deepens a circuit split on the constitutionality of the CFPB’s funding structure, which is set for hearing before the Supreme Court next term.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS