In yet another volte-face, the CFPB now believes the rule limiting the president’s ability to fire the bureau’s head is unconstitutional, according to a brief filed last week by the Department of Justice.
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A coalition of the nation’s largest lenders, trade groups and consumer advocacy groups have suggested the elimination of the DTI ratio cap and the associated Appendix Q. However, the MBA and Democratic lawmakers have urged the bureau to tread cautiously.
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A bipartisan coalition of more than two dozen state attorneys general have urged CFPB Director Kathy Kraninger to reconsider the proposed debt collection policy.
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The CFPB will continue to publish all previously disclosed fields in its consumer complaint database, but will find ways to provide the information in a more accurate and fair manner.
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The bureau is exploring the use of “Tech Sprints,” a model used in the United Kingdom for collaborative innovation, to promote regulatory compliance innovation.
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