Even though the delay was more or less expected, industry watchers said the CFPB’s plan to reconsider the revised general QM final rule throws the industry deep into regulatory uncertainty.
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The Financial Data and Technology Association believes this is the best way to address companies’ concerns regarding third-party supervision issues associated with financial data access.
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The Federal Reserve, the OCC and the FDIC need to work together to create uniform and consistent anti-redlining laws, according to the MBA and the CSBS.
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In keeping with its stated priority of addressing discrimination, the CFPB recently sued bail bond company Libre for allegedly preying on immigrants held in federal detention centers.
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The state’s Community Reinvestment Act and banking laws should be amended to include both nonbank mortgage lenders and banks, the state’s Department of Financial Services said in a recent report.
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The CSBS believes networked supervision will give states new capabilities for managing risk and increasing data flow and partnership opportunities with states’ federal counterparts.
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Regulatory examinations for loan servicers in California will now include a process to determine compliance with both state and federal laws regarding COVID-19-related foreclosures.
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In the most recent 12-month period, Florida residents submitted 2,716 complaints per million people against financial service providers. (Includes data chart.)
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