With the Senate confirming Rohit Chopra as CFPB director, industry participants are preparing for regulatory whiplash after relaxed enforcement and rulemaking during the Trump administration.
Rohit Chopra’s confirmation as CFPB director prompted a surge of statements from industry stakeholders. The sentiments include requests for action and compliments.
Rohit Chopra was nominated in February to serve as the CFPB’s director. However, a final vote on his appointment has been delayed in the Senate for several months due to concerns about the leadership of the Federal Trade Commission, where Chopra is currently a member.
According to CFPB researchers, renters typically face more financial vulnerability than homeowners and hence had more to gain from some pandemic relief efforts than mortgagors.
Senate bill seeks to reward whistleblowers; CFPB examines complaints based on census tracts; new members appointed to CFPB advisory boards and councils.
Capitol Hill Republicans want CFPB Acting Director Dave Uejio to testify before Congress about the policy actions undertaken during his six-month tenure.
The bureau also has dropped pursuit of two rulemakings under the Home Mortgage Disclosure Act. One concerns the data points lenders must report and another is related to the public disclosure of HMDA data.
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.
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