Policy and Regulation

The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information.

JPMorgan Chase Asset and Wealth Management Private Bank is pooling over 400 seasoned mortgage loans from its high-net worth clients. The loans are considered low-risk, but were not tested against CFPB qualified-mortgage standards.

The mortgage REIT's external manager responded by filing a new lawsuit against it, calling the move "baseless and retaliatory."

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies.

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.

Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.