The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

Last year, the CFPB referred 18 matters to the Department of Justice and initiated 28 fair lending examinations or targeted reviews, the highest number of such actions by the agency ever.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The suggested order would require Freedom Mortgage to pay $3.95 million to settle allegations that it botched its reporting of customer data to the watchdog.

Analysts foresee less regulation and a weighty tax cut decision, but aren't confident that the former president will end GSE conservatorship.

The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

The lender lost a battle to toss the lawsuit, but convinced a judge to compel the regulator to produce data on its competitors.

The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.