Republican control of the House of Representatives means that CFPB could be sidelined for years, writes the Chairman of Whalen Global Advisors

President Biden announced that his administration would extend the pandemic-era pause in student loan repayments through June 30 amid legal challenges to his college debt-forgiveness plan.

But an executive at the mortgage company's corporate parent feels the agency, which is facing a court challenge to its funding, is engaging in regulatory overreach.

Republican control of the U.S. House of Representatives will help advance financial services firms' priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular U.S. consumer watchdog.

A heated panel discussion sponsored by the Federal Housing Finance Agency raised questions about the funding, structure and mission of the Home Loan banks.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

The agency released two reports Tuesday outlining shortcomings of the background check industry and pledged to root out false information and faulty practices in the space.

Martin Gruenberg has been acting chairman of the Federal Deposit Insurance Corp. since February and is the longest-serving member of the FDIC board.

The Federal Reserve notched two badly needed wins last week, as inflation showed signs of easing and the financial system withstood the collapse of one of the world's biggest crypto firms. Here's what that means for the central bank moving forward.

Treasury Secretary Janet Yellen called October's positive inflation report in the U.S. "a good reading," but cautioned against relying too much on one data point.

A growing number of economists and lawmakers think the Fed has gone too far in its battle against inflation. Powell is worried it hasn't gone far enough.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

Major efforts are underway to eliminate discriminatory practices in property valuations.

In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.

"The main threat we see is coming from the CFPB, where the single director can act as judge, jury, and executioner, all in one," said Bob Broeksmit, president of the Mortgage Bankers Association

The regulator believes this transparency into the Uniform Appraisal Dataset records will help combat valuation bias.

The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.

The agency expects one in five borrowers to be eligible for the new pricing benefits.

The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.

The delay acknowledges concerns some companies and trade groups have had about compliance with the requirement.