Consumer Financial Protection Bureau Director Richard Cordray pushed back against a Treasury Department report critical of the bureau's arbitration rule, saying it overlooked how class action lawsuits help consumers.

The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, and the fallout could be significant for all sides.

With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data.

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

The nonbinding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

Regulators usually avoid the public fights that define other realms of the polarized Washington landscape, but the recent tiff over the arbitration rule is an exception.

From debating the future compliance landscape to developing a digital mortgage strategy, here's a preview of the top issues, ideas and themes on tap when the industry convenes in Denver for the Mortgage Bankers Association's Annual Convention & Expo.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

The Office of the Comptroller of the Currency used "flawed statistics" and misstated the effects of the Consumer Financial Protection Bureau's arbitration rule on community banks, Director Richard Cordray said Friday.

The Consumer Financial Protection Bureau said Friday that Anthony Alexis, its enforcement chief, plans to leave the agency after more than five and a half years.

Ocwen Financial Corp. is settling allegations by Alabama and Minnesota that it engaged in improper mortgage activities, bringing the total of states it has settled with to 17.

In an op-ed, acting Comptroller of the Currency Keith Noreika argued that allowing consumers to sue financial institutions in class actions would raise credit costs and harm small banks.

TILA-RESPA integrated disclosure rule amendments are in effect and the Consumer Financial Protection Bureau is beginning to digest comments on an outstanding "black hole" mortgage companies want more clarification on.

The Consumer Financial Protection Bureau was created in part to ensure that nonbanks are subject to federal oversight, but the fact is that 99% of banks are exempt from CFPB supervision.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

While disappointed with the CFPB's actions in recent years, bankers said they want to see a campaign platform before making a decision on the agency's director.

The Consumer Financial Protection Bureau said Wednesday that it would give mortgage servicers more time to notify distressed borrowers who have asked not to be contacted about the collection of their debts.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

In a recent letter, two trade groups representing that industry lobbied Treasury Secretary Steven Mnuchin to support a bill that would give oversight of nonbank mortgage lenders exclusively to state regulators.