Policy and Regulation

The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.

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 Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.

The amendments effectively broaden the rule’s impact to include fixed-income securities, prompting several major industry groups to address SEC Chairman Gary Gensler.

The New Jersey-specific case could be a sign of how the combined effect of federal debt-collection rules and state regulations may further complicate a compliance-sensitive environment for the industry.

The Community Home Lenders Association sent a letter to the Consumer Financial Protection Bureau Director Rohit Chopra stating that smaller and mid-sized mortgage bankers should be governed on assets, volume size and the extent of state oversight.

The ruling overturns a summary judgment in a class action lawsuit filed by refinance customers between 2004 and 2009 in West Virginia over alleged inflated property values.

The filing by Tamara Richards also accused the founder and other execs of encouraging a "frat house" environment that mistreated women.

Changes made in the waning days of the previous administration limited the government-sponsored enterprises’ purchases of certain loan types, which drew criticism from lenders and community groups alike.