The Fifth Circuit Court of Appeals, in ruling on the validity of a CFPB 2017 payday lending rule, found the funding structure underlying the agency’s actions unconstitutional. Depending on the results of an appeal, it could spell serious trouble for the bureau.
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Mortgage Bankers Association's President and CEO Robert Broeksmit said regulations have pushed banks out of the mortgage sector and could do the same to nonbanks if regulators aren’t careful.
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The American Financial Services Association defended its members following a report from the Center for Responsible Lending that criticized “high-cost installment loans.”
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The CFPB alleges Active Network, used by community groups to plan events, tricked consumers into signing up for annual memberships by manipulating them.
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The Mortgage Bankers Association, alongside national bank trade groups and local mortgage industry groups, sent a comment letter to a DC councilmember requesting the bill be shelved.
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CSBS names new policy and supervision chief; CFPB studies student banking; bureau sues remittances firm; DOJ settles discrimination claims with bank; Regulation F MVNs are optional; bureau states clearly false data don’t belong on credit reports.
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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