In a boon for the CFPB, a lawsuit has been sent back to a lower court, after the Maine Supreme Court vacated the ruling and determined that the loan wasn’t exempt from TILA requirements under Section 1603(3).
Standard-setting organizations will be able to apply for recognition from the CFPB soon, Director Rohit Chopra said. The move will take the bureau closer to finalizing open banking rules.
During an event hosted by the National Fair Housing Training Academy Forum, mortgage lenders were briefed on ways to help decrease discrimination and diversify their businesses.
At a recent House hearing, Republicans and Democrats were divided on the CFPB’s proposed rule to extend its supervisory authority to large technology companies in the digital payment space.
The bureau is calling on NY state leaders to consider adding more restrictions within state legislation to protect consumers from unfair, deceptive or abusive acts and practices.
It will be the 11th issuance of its type by loanDepot.
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