Consumer lending

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

The Consumer Financial Protection Bureau will conduct supervisory exams of nonbank fintech companies that pose risks to consumers as Director Rohit Chopra seeks to level the regulatory playing field with supervised banks.

Questionnaires sent to banks in recent months seek information about loans to same-sex couples, women on maternity leave and people with limited English proficiency. Industry executives and attorneys say the Consumer Financial Protection Bureau may be offering hints about specific types of fair-lending cases it could pursue.

In an update to an exam manual, the Consumer Financial Protection Bureau says racial or other bias associated with a wide range of financial products — not just credit — is illegal and subject to CFPB enforcement actions.

A federal judge last week upheld "valid when made" rules that support such arrangements. But analysts say an appeals fight is likely, and new leadership at the OCC and FDIC could change the agencies' view of interest rate exportation across state lines.

President Biden’s aspirations for aggressive forgiveness haven’t been fulfilled to date, but steps taken so far have lowered a key hurdle to entry-level homeownership.

The consumer agency’s latest data analysis takes issue with how Equifax, Experian and TransUnion have dealt with a deluge of grievances. One analyst called it a “starting point” for stricter regulations and enforcement actions.

The credit bureaus plan to add repayment data for installment loans, a move that can inform credit decisions and help answer regulators' questions about how such borrowing affects consumers' financial health.

Yan Zhao, President of NYDIG as she exploreshow Bitcoin is experiencing wider adoption in the traditional finance world, and why that is.

The banking industry, which often questions aggressive moves by the agency, urged the Consumer Financial Protection Bureau to level the regulatory playing field between the financial and technology sectors.