Regulation/Compliance

The Consumer Financial Protection Bureau is likely to scratch and rework its open banking rule, at a time when the agency's fate is in doubt.

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

The president is likely to nominate Federal Reserve Gov. Michelle Bowman to be the central bank's next vice chair for supervision, a post vacated by Michael Barr.

According to an order by the SEC, the bank negligently under-reported what it knew about a data breach and ransomware attack it suffered that year.

Sergey Dyakin, CIO of Celink, outlines the nuances of implementing new technology in the HECM servicing business

Housing finance organizations argue that these companies are relatively small, and allowing other agencies to be the first line of defense has worked.

Just because regulators have not initiated any enforcement actions since 2014 doesn't mean they aren't watching.

A whistleblower complaint on a $250,000 retention award for a Fannie Mae senior executive prompted the investigation of the Federal Housing Finance Agency's procedures.

ICE’s deal could give it pricing power over the industry to the detriment of smaller lenders and consumers, the nonbank mortgage trade group said in a letter to the Justice Department

A former account executive sued the company claiming it did not follow its own "Firm 40" policy.

In the agreement, the bank denied allegations that it refused to issue a mortgage until one of the applicants returned to work from maternity leave.

The misdemeanor plea deals for three co-defendants do not add to troubles for an upstate New York developer facing federal felony charges in what once was called a "wide-ranging mortgage fraud scheme."

Biden administration appointees moved quickly to highlight climate change risks and unwind Trump-era regulatory relief and housing finance measures. These regulators and lawmakers will have a seat at the table as the progressive shift in banking policy continues.

The agency is looking to clarify existing regulations around how these accounts are handled, based on questions it received.

The Department of Housing and Urban Development extended an implementation deadline less than a week before new standards were scheduled to go into effect.

The agreement calls for the bank to pay $50,000 to an unnamed consumer and requires its staff to undergo fair lending training as it relates to appraisals.

Both in terms of interest expense and the sheer cost of dealing with consumers, the mortgage industry is out hundreds of millions of dollars due to this unfunded mandate from Congress, analyst Chris Whalen says.

The waivers to standard procedure will remain in place until December 2021.

The move to a remote work model is a long-term, technology-driven transformation, which was well underway prior to the pandemic and will continue long after the pandemic, Matthew VanFossen and Taylor Stork, members of the Community Home Lenders Association, argue.

Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens," and holding banks accountable for their impact on consumers will be among his priorities.