The preliminary injunction came after a challenge by the U.S. Chamber of Commerce, the American Bankers Association and other trade groups. The ruling could spell trouble for the Biden administration’s fight against so-called “junk fees” in the financial services industry.
Chime Financial to pay more than $4.5 million in redress and fees; Chopra pushes for further action from FSOC on nonbank servicers; financial associations are worried about the CFPB’s potential consumer complaint survey; CFPB takes another action involving student loan ABS; CFPB sues online lending platform.
Delinquencies and losses on subprime auto ABS have been rising. Improved underwriting and inflation leveling out could help improve performance, according to industry analysts.
The 7-2 decision upholds the bureau’s ability to receive funding directly from the Federal Reserve and overturns a decision by the Fifth Circuit Court of Appeals.
Goldman markets a new jumbo loan, Fannie releases results of a non-performing loan sale, Sachem's revenue grows in the first quarter and UWM's CEO downplays pricing initiatives.
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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