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Regulation and compliance

Trump’s CFPB drops more than half of all pending litigation

Trump’s CFPB drops more than half of all pending litigation

CFPB News & Analysis, Consumer banking, Enforcement, Litigation, Regulation and compliance, Trump administration /

The former headquarters of the Consumer Financial Protection Bureau with signage removed.Catherine Leffert The Consumer Financial Protection Bureau has dismissed or withdrawn more than half of its pending enforcement cases as the Trump administration clears the docket of work it inherited from the Biden era.  Since February, acting CFPB Director Russell Vought has dismissed 17 […]

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Mortgage bankers ask OMB to end or revise several rules

Homebuilders, Originations, Politics and policy, Regulation and compliance, Servicing /

The Mortgage Bankers Association has responded to the Office of Management and Budget’s request for information on “unnecessary, unlawful, unduly burdensome and unsound rules” with several origination and servicing policy suggestions. There already has been pullback from some of the policies the association is calling for the Office of Management and Budget to rescind, with

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Banks face repeat of data-sharing fight with CFPB move

Banks face repeat of data-sharing fight with CFPB move

CFPB News & Analysis, Regulation and compliance /

Frank Gargano A U.S. consumer watchdog looks poised to tear up a rule on customer financial data sharing and start all over again — but with a depleted staff, a potentially drained budget and all of the same thorny issues. The Consumer Financial Protection Bureau is likely to scratch and rework its open-banking rule, which

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Trump’s CFPB rescinds 70 guidance and enforcement documents

Trump’s CFPB rescinds 70 guidance and enforcement documents

Politics and policy, Regulation and compliance /

Acting Consumer Financial Protection Bureau Director Russell Vought rescinded scores of guidance documents in a Federal Register notice scheduled for publication Monday.Bloomberg News The Consumer Financial Protection Bureau is radically cutting enforcement by withdrawing nearly 70 guidance documents, citing President Trump’s mandate to eliminate regulations and reduce costs for businesses.  In a major change for

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