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Inside the CFPB

July 1, 2024

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Freedom Agrees to $4 Million Settlement Over HMDA Case

The nonbank lender has faced numerous actions from the CFPB since 2019 for alleged intentional misreporting of HMDA data. Read More

Three Reverse-Mortgage Servicers Banned for Life

Sutherland Global denies all allegations by the CFPB and said it was not “directly responsible for the reverse mortgage servicing conduct that is subject of the CFPB agreement.” Read More

CFPB Fair Lending Efforts Focus on Mortgages, Cards

The bureau completed 28 fair lending examinations or reviews on banks and nonbanks in 2023, among other activities. Read More

Federal Regulators Issue Final Rule on AVMs

The final rule is essential in helping to reduce risks of discrimination in automated-valuation models used in the mortgage market, according to CFPB Director Rohit Chopra and Deputy Director Zixta Martinez. Read More

CFPB Auto Data Report Flags Risks Tied to Negative Equity

Industry attorneys said it’s unclear what the CFPB might do about auto purchases that include negative equity from a prior vehicle, given the bureau’s lack of jurisdiction over auto dealers. Read More

CFPB Extends Compliance Dates for Pending Rules

The CFPB set new implementation dates for its small business lending data reporting rule and the payday lending rule. However, the new deadlines could still face court challenges. Read More

NJ Court Rules on Servicer RESPA Obligations in Foreclosures

A district court’s order focused on RESPA violations following a loan default. Read More

Former Official Notes Stark Changes to CFPB’s Workings

How the bureau delegates on rulemaking has changed in recent years under Rohit Chopra, according to John Tonetti, former senior policy analyst in the Office of Supervision Policy. Read More

Other News in Brief

Supreme Court strikes down Chevron deference; Fifth Circuit denies CFPB’s attempt to transfer venue; Alabama Supreme Court upholds borrower payments during foreclosure trials; CFPB resolves a 2023 lawsuit involving attempts to avoid payment of fines; Supreme Court rules in on use of administrative proceedings. Read More

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