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.