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Inside the CFPB

March 3, 2025

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CFPB Nominee McKernan Pledges to Uphold the Law

CFPB Director-nominee Jonathan McKernan at his confirmation hearing promised to perform the statutory functions of the bureau. But he didn’t directly respond to the question of whether he agrees with President Trump’s statement that it’s important to “get rid of” the bureau. Read More

Trump Administration Denies Plans to Dismantle CFPB

The DOJ in a court filing accused the CFPB employee union of twisting a stop work order at the bureau as being part of a “coordinated campaign” by the Trump administration to eliminate the CFPB. Read More

Bureau Starts Withdrawing Chopra-Era Lawsuits

The bureau has so far dismissed lawsuits against Capital One, Heights Finance, Rocket Homes, Pennsylvania Higher Education Assistance Agency and Vanderbilt Mortgage and Finance. Read More

Senate Democrats Stand Up for CFPB

Senate Democrats are seeking answers from Elon Musk, head of the Department of Government Efficiency, and CFPB Acting Director Russell Vought regarding potential financial conflicts. Read More

HMDA Submissions Continue Even as CFPB Faces Blockade

Financial entities who fail to comply with the Home Mortgage Disclosure Act’s requirements are at risk of enforcement actions by a future Democratic administration or at the state level. Read More

CSBS Plans Updates for Mortgage Call Report

The Mortgage Bankers Association has some concerns regarding the latest rollout of updates to the mortgage call report. Read More

Several States Charge Ahead on CRA Legislation

The Mortgage Bankers Association continues to push back against most state CRA legislation that would apply to nonbank mortgage companies. Read More

CFPB Dismisses Lawsuit Against SoLo Funds

The bureau had alleged that the California-based short-term loan company disguised fee payments as “tips” or “donations.” Read More

Other News in Brief

Court pauses open banking rule; legislation to defund CFPB; NMLS processing fees increase; Republicans introduce resolution to overturn overdraft rule. Read More

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