In 2024, limited liability companies and certain other entities will have to begin reporting beneficial ownership information to the Financial Crimes Enforcement Network. ABS issuers will generally be covered by the requirements but CLO issuers will not.

The guidance outlines when consideration of a credit applicant’s immigration status could violate the Equal Credit Opportunity Act.

The senators said VA should pause foreclosures for borrowers who will likely qualify for the Veterans Assistance Servicing Purchase program.

Complaints submitted to the CFPB increased by 8.7% on a quarterly basis.

CFPB Director Rohit Chopra focused on the interplay between appraisal management companies and how much appraisers are paid.

Consumer complaints filed with the CFPB increased during the third quarter, with credit cards and credit reports jumping from already high levels. Gripes about student loans also saw a big jump during the quarter. (Includes two data charts.)

In a new report, the Federal Reserve said nearly 60% of the compliance violations it observed at banks in 2022 were related to reporting under the Home Mortgage Disclosure Act.

In an Appraisal Subcommittee hearing this month, CFPB Director Rohit Chopra focused on the impact of appraisal management companies, including their market share and fees.

Members on the Federal Reserve and FDIC boards who opposed approving the revised Community Reinvestment Act standards said the new rule could put regulatory burdens on banks.

The CFPB proposed a rule seeking to supervise larger nonbank companies that offer services such as digital wallets and payment apps.