Republicans pressed the head of the CFPB’s Office of Innovation and Competition on the value of work done by the office.

Republican lawmakers in the House and Senate pushed CFPB Director Rohit Chopra to share more information on a data breach at the bureau earlier this year. Members of both parties also urged Chopra to engage more with state-level banking trade groups.

The CFPB’s funding requests in fiscal year 2023 totaled $721.2 million, 96% of its annual funding cap, according to the bureau’s financial report released this month.

Bureau hiring enforcement staff; report says NSF fees down 97%.

The bureau has agreed to pay $6 million to settle a 2018 discrimination lawsuit brought by current and former Black and Hispanic employees.

The now-shuttered Sprout Mortgage, its former CEO and other defendants have agreed to shell out $3.5 million to settle four consolidated class actions brought by former employees of the non-QM lender.

New APOR calculations; regulators help with LIBOR transition; CFPB puts credit reporting agencies on alert; data breach involving former CFPB employee; lender settles with Arizona AG.

The CFPB’s annual financial report showed an uptick in staffing and expenses but a significant increase in the civil money penalties collected. Victim compensation flagged a bit. (Includes data chart.)

The bureau will be adding up to 20 new employees, most of them attorneys, as it prepares to take aim at larger firms and recidivism.

Although CFPB Director Rohit Chopra’s tenure so far has been unusually quiet on the mortgage front, industry attorneys and executives said other actions indicate there’s enforcement on the horizon.