The high court's much-anticipated ruling gives federal courts — rather than executive agencies — the power to interpret ambiguous statutes. The decision is expected to facilitate an increase in litigation over banking regulations.

A landmark ruling by the Supreme Court's conservative majority means that defendants will have the right to a jury trial in cases where bank regulators are seeking civil penalties. The consequences for federal banking agencies are expected to be substantial.

Last year, the CFPB referred 18 matters to the Department of Justice and initiated 28 fair lending examinations or targeted reviews, the highest number of such actions by the agency ever.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The Department of Justice filed an amicus brief in a case that also involves the National Association of Realtors and its rules around multiple listing services.

The nation's leading brokerages have agreed to rule changes and settlements with consumers totalling over $900 million.

The inclusion of policy addressing potential bias or discrimination in AVM models drew both support and criticism, with some stakeholders calling for the creation of an independent nonprofit to help ensure compliance.

The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero — the administration's pick to take over the Federal Deposit Insurance Corp. — on July 11.

The appeals court battle is unrelated to the association's settlement regarding buyers' brokers commissions, scheduled for final approval in November.

The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.

The company says consumer interest has been "fantastic", although it's not disclosing application figures nor how much money it's set aside to fund the offering.

The high court will determine how much deference judges should give to regulators in interpreting laws passed by Congress. The upcoming ruling has especially big implications for the Consumer Financial Protection Bureau, which has drawn the banking industry's ire.

The suggested order would require Freedom Mortgage to pay $3.95 million to settle allegations that it botched its reporting of customer data to the watchdog.

The agency alleged the companies had inadequate servicing resources and is calling on them to pay millions of dollars in redress and a civil money penalty.

Sen. Elizabeth Warren, D-Mass., an influential progressive member of the Senate Banking Committee, decried reported meetings between Federal Reserve Chairman Jerome Powell and large bank CEOs who want the Basel III endgame proposal weakened.

In order to release Fannie Mae and Freddie Mac from conservatorship, legislation must be passed to guarantee safety and soundness, the Federal Housing Finance Agency's annual report to Congress said.

Analysts foresee less regulation and a weighty tax cut decision, but aren't confident that the former president will end GSE conservatorship.

From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.

Consumer Financial Protection Bureau Director Rohit Chopra touted the bureau's work on data privacy and open banking, and asked that lawmakers on both sides of the aisle pursue legislation to further consumer protections.

Consumer Financial Protection Bureau Director Rohit Chopra pushed back against a new argument posed by Senate Republicans that the bureau may only be funded if the Federal Reserve earns a profit.