CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks
CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks
The CFPB says the rule gives it the ability to conduct supervisory exams on nonbanks or any fintech it believes is risky.
The post CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks appeared first on HousingWire.
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The CFPB says the rule gives it the ability to conduct supervisory exams on nonbanks or any fintech it believes is risky.
The post CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks appeared first on HousingWire.
The CFPB says the rule gives it the ability to conduct supervisory exams on nonbanks or any fintech it believes is risky.
The post CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks appeared first on HousingWire.
The Consumer Financial Protection Bureau’s rulemaking agenda will be dominated in the year ahead by unfinished rules that Congress mandated more than a decade ago by the Dodd-Frank Act. The CFPB laid out the timeline for five rules in its spring agenda that the bureau expects to complete by May 31, 2023. Two of the rules are considered the most consequential including consumer access to financial records and a small-business data collection rule.CFPB Director Rohit Chopra has lamented that h...
The Consumer Financial Protection Bureau’s rulemaking agenda will be dominated in the year ahead by unfinished rules that Congress mandated more than a decade ago by the Dodd-Frank Act. The CFPB laid out the timeline for five rules in its spring agenda that the bureau expects to complete by May 31, 2023. Two of the rules are considered the most consequential including consumer access to financial records and a small-business data collection rule.CFPB Director Rohit Chopra has lamented that h...
The CFPB said Friday it would take a “fresh look” at a rule that decides what mortgages are protected from some litigation during foreclosures.
The post CFPB to review QM rule appeared first on HousingWire.
The CFPB said Friday it would take a “fresh look” at a rule that decides what mortgages are protected from some litigation during foreclosures.
The post CFPB to review QM rule appeared first on HousingWire.
An onslaught of inquiries expected from Republican lawmakers next year has prompted Consumer Financial Protection Bureau Director Rohit Chopra to create a new office devoted solely to responding to congressional probes. In an internal memo to staff on Tuesday, Deputy CFPB Director Zixta Q. Martinez announced a ramping-up of hiring for the bureau’s newly created Office of Oversight and a separate strategy team and a realignment of the bureau’s legal and student loan offices. Joshua Rob...
An onslaught of inquiries expected from Republican lawmakers next year has prompted Consumer Financial Protection Bureau Director Rohit Chopra to create a new office devoted solely to responding to congressional probes. In an internal memo to staff on Tuesday, Deputy CFPB Director Zixta Q. Martinez announced a ramping-up of hiring for the bureau’s newly created Office of Oversight and a separate strategy team and a realignment of the bureau’s legal and student loan offices. Joshua Rob...
Eight bank trade groups have petitioned the Consumer Financial Protection Bureau to define data aggregators as larger participants subject to regulatory supervision. In a 10-page letter sent Tuesday to CFPB Director Rohit Chopra, the bank trade groups asked the bureau to issue a larger participant rule before implementing a separate rulemaking on consumer access to financial data. The trade groups also called for the CFPB to define the services of data aggregators as a financial product or ser...
Eight bank trade groups have petitioned the Consumer Financial Protection Bureau to define data aggregators as larger participants subject to regulatory supervision. In a 10-page letter sent Tuesday to CFPB Director Rohit Chopra, the bank trade groups asked the bureau to issue a larger participant rule before implementing a separate rulemaking on consumer access to financial data. The trade groups also called for the CFPB to define the services of data aggregators as a financial product or ser...
House Financial Services Chairwoman Maxine Waters wants the CFPB to put a “moratorium” on Equifax, after it reported faulty credit scores of millions of consumers.
The post Waters tells CFPB to shut down Equifax credit reporting appeared first on HousingWire.
House Financial Services Chairwoman Maxine Waters wants the CFPB to put a “moratorium” on Equifax, after it reported faulty credit scores of millions of consumers.
The post Waters tells CFPB to shut down Equifax credit reporting appeared first on HousingWire.
Rohit Chopra, the director of the Consumer Financial Protection Bureau, said the bureau plans to conduct a review of the "qualified mortgage" rule and credit card rules. In a blog post on Friday, Chopra announced that the bureau will take a fresh look at Trump-era changes to underwriting standards in the QM rule and two long-standing credit card rules. “Many of these rules have now been tested in the marketplace for many years and are in need of a fresh look,” Chopra wrote.Even though ave...
Rohit Chopra, the director of the Consumer Financial Protection Bureau, said the bureau plans to conduct a review of the "qualified mortgage" rule and credit card rules. In a blog post on Friday, Chopra announced that the bureau will take a fresh look at Trump-era changes to underwriting standards in the QM rule and two long-standing credit card rules. “Many of these rules have now been tested in the marketplace for many years and are in need of a fresh look,” Chopra wrote.Even though ave...
America is in a "full damage control mode" while the Federal Reserve attempts to control inflation, inflicting the mortgage industry with difficult days – and that's when "bad policies have a habit of rearing their ugly head," MBA president and CEO Bob Broeksmit said.
The post MBA’s Broeksmit takes aim at CFPB appeared first on HousingWire.
America is in a "full damage control mode" while the Federal Reserve attempts to control inflation, inflicting the mortgage industry with difficult days – and that's when "bad policies have a habit of rearing their ugly head," MBA president and CEO Bob Broeksmit said.
The post MBA’s Broeksmit takes aim at CFPB appeared first on HousingWire.