Politics

Consumer Financial Protection Bureau Director Rohit Chopra is pushing the envelope of the bureau's power and jurisdiction in untested ways. More companies are disputing the CFPB’s allegations, refusing to pay large fines or admit wrongdoing, and vowing to defend themselves in court. 

The Federal Housing Finance Agency is shoring up the government-sponsored enterprises’ finances as it returns to considering a mission-centric conservatorship exit, and its related policies have implications for lenders.

Borrowers must be protected against discrimination at all steps of the credit process — including after they’ve already been granted credit, the regulator affirmed.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

It will soon become mandatory to give consumers, nonprofits and governmental entities first crack at homes sold through the claims without conveyance of title process for 30 days.

The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a joint proposed rule Thursday meant to refocus and update its implementation of the landmark 1977 law.

The Federal Reserve’s Federal Open Market Committee voted Wednesday to raise interest rates to between 0.75% and 1%, the largest single rate hike since 2000.

Johnson, who currently heads a housing-finance industry group, will take over this summer from longtime president and CEO Richard Hunt.

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 National Association of Home Builders asked the White House to take action to address the supply-chain disruptions that are pushing up the costs of materials and labor, in a letter sent Wednesday.

Mortgage companies, particularly small ones, might have trouble meeting a higher bar set to cover one of the risks that emerged during the pandemic, commenters said during a public listening session.

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.

Federal housing funds are targeted at building more apartments, not promoting homeownership, which is essential to building intergenerational wealth. There's an easy fix lawmakers have long ignored.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

California Attorney General Rob Bonta and 21 other AGs urged the Consumer Financial Protection Bureau to include consumer costs for certain mortgage payment services in a review of "junk" charges.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Servicers of Fannie Mae- and Freddie Mac-backed loans should hit pause for up to 60 days once they know the borrower has sought relief, according to the Federal Housing Finance Agency.

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.