Regulators in some states controlled by Democrats are poised to increase their oversight of consumer protection laws as the CFPB’s focus is expected to shift under the incoming Trump administration.
The bureau’s fall regulatory agenda listed December as the date for issuing three final rules among several other items. None of the items has been issued so far.
The state’s proposal to establish Community Reinvestment Act requirements for nonbank mortgage lenders was met with opposition from the Mortgage Bankers Association.