A controversial bill that would have included an explicit consideration of race and ethnicity in performance evaluations has been dramatically altered. Trade associations representing lenders are taking the credit.
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The CFPB plans to launch dedicated units within its supervision and enforcement division to enhance detection of repeat offenders and to better hold them accountable.
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The argument comes in an amicus brief submitted by the bureau in a class-action lawsuit against Wells Fargo for its mortgage servicing practices.
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The Foreclosure Abuse Prevention Act, if passed, would mean a servicer’s voluntarily halting of foreclosure litigation wouldn’t cancel the loan’s “acceleration.”
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A federal appeals court remanded the case to a district court to first determine which counts of a CFPB complaint against Ocwen are barred by the 2014 consent judgment between the two parties.
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Trade associations for banks and nonbank lenders, as well as consumer advocates, pressed for much more regulation of the emerging buy now, pay later sector.
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The “discussion draft” from Rep. Maxine Waters, D-CA, seeks to establish a federal valuation agency, which would take over The Appraisal Foundation’s role in setting valuation standards and appraiser criteria.
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CFPB sanctions Edfinancial; proposed rule on human trafficking and credit reporting; CFPB could play a role in digital U.S. dollars; FDIC seeks comments on bank mergers; FDIC supervisory highlights; bill would broaden CFPB’s small business oversight; medical debt; OMWI report; payday loans.
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