CSBS is taking a close look at loan officer education compliance; CFPB fines Global Tel Link $3 million; CFPB releases details from student loan survey; pilot study by CFPB finds differences in how lenders treat minorities that own small businesses; Comerica Bank files lawsuit challenging CFPB investigation; Fifth Circuit denies request to reopen case against CFPB’s payday lending rule.
President-Elect Donald Trump is expected to replace Rohit Chopra as CFPB director. It’s not yet clear how the Trump administration plans to handle mortgage-related efforts in progress at the CFPB.
One Company, One Exam aims to streamline mortgage examinations for companies by completing one state exam per company using a series of standardized exam questions.
Demand for data centers is rapidly increasing but supply is constrained. This environment presents a great opportunity for ABS investors, according to DoubleLine.
Complaints about credit reporting dominated submissions to the CFPB and they more than doubled on an annual basis through the first three quarters of this year.
Complaints filed with the CFPB increased by 23.0% in the third quarter. And for the first nine months of the year, complaint volume nearly doubled on an annual basis, led by issues with credit reports. (Includes two data tables.)