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.

The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.

Rep. Andy Barr, R-Ky., and Sen. Thom Tillis, R-N.C., told the Consumer Financial Protection Bureau that pursuing a rulemaking on forced arbitration, as laid out by consumer advocates' rulemaking petition, would be an "affront to Congress."

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

The Consumer Financial Protection Bureau received nearly 28,000 mortgage-related consumer grievances in 2023, the regulator said.

Despite pressure from the Consumer Financial Protection Bureau, the embattled Appraisal Foundation tapped its longtime second-in-command to be its next president.

The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.

At issue is whether convenience fees for last-minute payments are governed by the Federal Debt Collection Practice Act, and if so, when they should be disclosed.

The original lawsuit was one of several filed in 2014 in a coordinated effort among federal and state regulators aimed at fraudsters trying to cheat distressed mortgage borrowers.

A clash over pay playing out in contract negotiations between the Consumer Financial Protection Bureau and its employee union occur as the Supreme Court is considering whether the agency must get its funding from Congress.

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.