Going by Trump’s first term, the CFPB is expected to continue to regulate by enforcement, but isn’t likely to expand its jurisdiction into questionable areas.
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The transaction threshold determining which nonbanks come under the bureau’s supervision has been drastically increased, to 50 million annual transactions from 5 million proposed.
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If the overdraft rule is adopted as proposed, banks would materially reduce the amount of liquidity they are able to offer consumers, according to the Consumer Bankers Association.
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A four-year partnership committed to expanding financial inclusion in low and moderate income, diverse and underserved neighborhoods will begin in January.
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The National Consumer Law Center is urging states to restrict the annual percentage rate at 36% for loans with balances of up to $1,000 and lower limits for larger loans.
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An Arizona district court determined that Sun West Mortgage Company and its foreclosure counsel didn’t violate the Truth in Lending Act or the Fair Debt Collection Practices Act in a foreclosure lawsuit.
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