Bloomberg News Processing Content What’s at Stake: Russell Vought, who also leads the Office of Management and Budget, has publicly stated his intent to shut down the CFPB, and recently refused to request funding for the agency. Supporting Data: Under the Federal Vacancies Reform Act, the lapse enables Russell Vought to remain as the acting […]
With CFPB nominee lapse, Vought continues as acting director Read More »
New York is the latest state to implement a nonbank Community Reinvestment Act, with laws already in place in Massachusetts and Illinois and one pending in New Jersey. Processing Content While it will be a compliance burden for these lenders, at least one nonbank executive also thinks it is an opportunity. A regulation has been
New York joins states imposing CRA on nonbank lenders Read More »
Lenders with less than $59 million in assets last year won’t have to share their home loan data with the government. Processing Content The Consumer Financial Protection Bureau on Wednesday raised its Home Mortgage Disclosure Act reporting exemption threshold by $1 million over the prior year, the smallest annual increase since 2023. The regulator, which
CFPB raises HMDA exemption and escrow thresholds Read More »
Key insight: Banks have been lending to nondepository financial institutions at a rapid pace, but the Trump administration’s approach to regulation could change their incentives. Supporting data: Lending to nonbank financial institutions accounted for about 40% of bank loan growth in 2025, though the category only represents about 13% of total bank loans. What’s at
Lending to nonbanks is booming. Will it last in 2026? Read More »
Following the enforcement action against now ex-CEO Patrick Terrance Donlon, Yield Solutions Group has assumed full operational control of Trusted American Mortgage, the companies said in a press release. Processing Content The two companies share an address in Centennial, Colorado. YSG has a nationwide presence in the auto lending industry. Donlon resigned as CEO of
Control shift at mortgage broker hit by enforcement action Read More »
Key insight: The Trump administration would violate an existing court order if it allows the CFPB to run out of funding by declining to request money from the Federal Reserve. Supporting data: The Judge held that the Dodd-Frank Act requires the CFPB to request funding from the Fed’s “combined earnings,” even when the Fed’s expenses
Judge blocks effort to allow CFPB funding to run out Read More »
For those tracking servicing regulation and compliance, Consumer Financial Protection Bureau cutbacks have pushed attention toward agencies like the Federal Housing Administration, whose distressed loan rules are likely to shape servicing priorities in 2026. Processing Content “There’s really not a lot going on with the CFPB,” said Donna Schmidt, president and CEO of DLS Servicing.
CFPB void shifts focus to other types of servicing rules Read More »
Key insight: The OCC is proposing relaxing its toughest category of supervision, limiting the heightened prudential standards to only the very largest firms. Processing Content Supporting data: The rule would raise the asset threshold from $50 billion to $700 billion, cutting the number of covered banks from 38 to eight. Forward look: The move makes
OCC moves to limit toughest standards to megabanks Read More »
A mortgage loan originator has settled a coordination action brought by 21 states which permanently bars him from working in the industry in 19 of those. Processing Content Patrick Terrance Donlon, worked for Trusted American Mortgage, disputed the findings but settled the “regulatory concerns without the time, expense, and uncertainty of contesting the findings in
MLO fined, barred in 21 states for alleged education fraud Read More »
Jonathan Gould, who is now comptroller of the currency, during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing. Photographer:Tierney L. Cross/Bloomberg The Office of the Comptroller of the Currency is looking for feedback on two proposals asserting preemption in interest on escrow accounts used in real estate lending. Processing Content One proposal from
OCC proposing interest on escrow preemption moves Read More »