Enforcement

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.

The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits.

All Democrats supported the bill focused on the decisions of former acting CFPB Director Mick Mulvaney, while all Republicans opposed it.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms.

Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.