The Federal Reserve and the Consumer Financial Protection Bureau moderately increased the minimum prices at which the Truth in Lending Act applies to loans and leases.

A blog post from the Consumer Financial Protection Bureau cited data from the pandemic refi boom to show Blacks and Hispanics had limited opportunity to drop their interest rate.

Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.

The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.

Mark McArdle advised attendees to remain cautious about the reasons behind implementation of artificial intelligence.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

The bureau claimed Newday USA deceived homeowners by failing to disclose the costs associated with a cash-out refinance when compared alongside their existing mortgages.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

Sellers of contract-for-deed home financing deals must provide disclosures, financing terms and assess a borrower's ability to repay, the CFPB said in an advisory opinion.

The financial services regulator believes Mr. Cooper is violating the Fair Debt Collection Practices Act due to its $25 fee for payoff quote statements.