Home equity investment activity is growing thanks to ongoing home price appreciation and strong demand from both homeowners and investors in the secondary market. Regulation of the products is currently limited to a handful of states.

Currently, banks charge an average of $35 for overdraft loans, raking in billions of dollars per year. The CFPB proposed a safe harbor for overdraft loans that would be as low as $3.

Industry participants and consumer advocates separately applauded the CFPB’s Section 1033 proposal on open banking. There were also plenty of suggestions for adjustments among the thousands of comment letters submitted.