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Regulation and compliance

Supreme Court won’t hear mortgage firm’s appeal in CFPB case

Supreme Court won’t hear mortgage firm’s appeal in CFPB case

Law and legal issues, Regulation and compliance /

The US Supreme Court in Washington.Kent Nishimura/Bloomberg The United States’ high court turned down a case involving a former biweekly mortgage-payment services firm that has been fighting a Consumer Financial Protection Bureau penalty for a decade. Processing Content The Supreme Court this week declined to hear an appeal from Nationwide Biweekly Administration, which has battled […]

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How Trump is turning fair lending law on its head

Gender discrimination, Politics and policy, Racial bias, Regulation and compliance, Trump administration /

What’s at stake: The Trump administration is trying to weaken the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act and the implementation of small business lending data collection, known as section 1071 under the Dodd Frank Act. Key insight: Lenders have long complained that the federal government should not be

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Mortgage deregulation: praise and peril from Trump’s EO

Housing markets, Politics and policy, Regulation and compliance, Underwriting /

Mortgage industry professionals have raised some concerns amid the broader praise for President Trump’s executive order signed Friday, which aims to loosen mortgage lending regulations.   Processing Content Many of the rules the EO looks to unwind were put into effect by the Dodd-Frank Act, passed in the wake of the Great Financial Crisis and the

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Federal court rules against CFPB in funding lawsuit

Litigation, Regulation and compliance, Trump administration /

Key insight: The court declared that Consumer Financial Protection Bureau Director Russell Vought’s decision not to request funding for the agency was a “transparent display of partisanship” and granted summary judgment to Rise Economy, a consumer advocacy group that had sued the CFPB over the decision. What’s at stake: The judge rejected the CFPB’s novel

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Enforcement is down under Trump. Is that a problem?

Enforcement, Politics and policy, Regulation and compliance, Trump administration /

Key insight: Bank enforcement actions fell by 55% during the first year of the Trump administration, according to data compiled by financial advisory firm Klaros. Supporting data: Klaros’ analysis shows that agencies issued 20 enforcement actions in the first quarter of 2025, but reduced that number to two by the fourth quarter. Terminated enforcement actions,

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MV Realty settles NTRAP suit, but more legal woes loom

MV Realty settles NTRAP suit, but more legal woes loom

Industry News, Politics and policy, Regulation and compliance, State regulators, Title insurance /

Florida-based real estate firm MV Realty sees a potential new legal challenge even after settling another of the numerous lawsuits that accuse it of predatory entrapment in regards to its controversial homeowner benefit agreement program.  Processing Content Massachusetts Attorney General Andrea Joy Campbell announced her office reached an agreement with the firm, issuing a $2.25

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Fed’s Bowman previews streamlined capital framework

GSIBs, Minimum capital requirements, Politics and policy, Regulation and compliance, Risk-based capital /

Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman highlighted upcoming changes to the global systemically important bank surcharge and Basel III endgame implementation rule, which primarily focus on adjusting input parameters and certain risk weighting mechanisms rather than overall capital levels. Expert quote: “These changes to the capital framework eliminate overlapping requirements, right-size

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Former CFPB counsel: Agency is doing more than you think

Former CFPB counsel: Agency is doing more than you think

CFPB News & Analysis, Law and legal issues, Politics and policy, Regulation and compliance /

The Consumer Financial Protection Bureau is still impacting the mortgage industry, despite a lack of examinations or investigations and the threat of a mass firing.  The regulator under Acting Director Russell Vought has continued to provide regulatory guidance to financial institutions, and even defended some actions put forth by the prior Chopra-led bureau. Richard Horn,

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OCC’s Gould doubles down on state preemption

National banks, Politics and policy, Regulation and compliance /

Key insight: Comptroller Jonathan Gould referenced the Office of the Comptroller of the Currency’s founding by Abraham Lincoln as the basis for federal preemption policy.  Forward look: He said the OCC will continue to file briefs with federal courts on the subject so that there will be a robust record to shore up the agency’s

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Advocates urge judge to block $68m Colony Ridge settlement

Fair Housing Act, Litigation, Politics and policy, Regulation and compliance /

Key insight: Eight civil rights nonprofits have urged a federal court to reject a proposed settlement between the Department of Justice and developer Colony Ridge, arguing an immigration enforcement clause in the settlement is “unlawful.”  What’s at stake: The underlying lawsuit targeted a “foreclosure mill” that sold undeveloped, flood-prone land to Hispanic buyers at 10%

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