A ruling against the CFPB could reshape the bureau’s funding structure and call into question every action taken by the consumer watchdog since its inception in 2011.
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RMK Financial/Majestic Home Loans continued to use advertisements that led consumers to believe it was affiliated with the FHA or VA in violation of a 2015 consent order.
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Appellate courts are rejecting older interpretations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act, while the CFPB is pushing its own readings of them through guidance.
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Across the 47 state assemblies in session, there are about 500 pieces of legislation under consideration that would directly impact mortgage servicers.
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The bureau has opened for public feedback the Independent Community Bankers of America’s application for a trial program that would provide borrowers expanded disclosures for construction and construction-to-permanent loans.
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The CFPB last month finalized, without changes, a procedural rule to update its Rules of Practice for Adjudication Proceedings. The bureau received four comments on the rulemaking.
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The Appraisal Foundation plans to revise ethics rule draft; CashCall faces $169 million in restitution and fines; companies not reporting credit card payment data; public benefits programs subject to fees; CFPB, FTC seek input on tenant background checks; DOJ redlining settlement.
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