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Trump administration

CFPB blocks state enforcement of federal consumer laws

CFPB blocks state enforcement of federal consumer laws

CFPB News & Analysis, Financial regulations, Politics and policy, Trump administration /

Russell Vought is the acting director of the Consumer Financial Protection Bureau.Andrew Harrer/Bloomberg The Consumer Financial Protection Bureau has withdrawn guidance from the Biden administration that had expanded states’ rights, allowing individual states to broadly enforce violations of federal consumer protection laws. The CFPB under former CFPB Director Rohit Chopra interpreted the Consumer Financial Protection […]

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Appeals court hears CFPB argument for 90% reduction in force

Appeals court hears CFPB argument for 90% reduction in force

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

John Heltman A panel of appellate judges will decide whether the Trump administration can fire 90% of the Consumer Financial Protection Bureau’s staff through a reduction-in-force without impacting the agency’s legally-mandated work. On Friday afternoon, a three-judge panel of the U.S. Court of Appeals for the District of Columbia heard oral arguments on whether a

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FEMA isn’t prepared for hurricane season, acting director concedes

Disaster Relief, FEMA, Housing Market, Hurricane, HWmember, Natural Disaster, Trump administration /

Following a dramatic turn of events at the Federal Emergency Management Agency (FEMA) last week, the newly-installed acting leader acknowledged that the agency does not have a disaster response plan even though hurricane season is jus two weeks away. Former acting FEMA chief Cameron Hamilton initially raised eyebrows when he was chosen to lead the

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DOGE overestimated savings from real estate lease cuts

DOGE, Elon Musk, General Services Administration, HWmember, Politics, Real Estate, Regulatory, Trump administration, U.S. Government /

Since the start of the second Trump administration, the U.S. DOGE Service — aka the “Department of Government Efficiency” — has been a lightning rod of controversy due to the ways it has sought to curtail government costs. It’s done so by slashing federal jobs, ending congressionally-approved programs and maintaining what some have viewed as

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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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MBA urges overhaul of mortgage rules in letter to OMB

CFPB, FHA, HWmember, LendingLife, Mortgage, Mortgage Bankers Association, Mortgage Servicing, Regulatory, Regulatory Compliance, Trump administration /

The Mortgage Bankers Association (MBA) submitted a formal request to the White House Office of Management and Budget (OMB) on Monday, asking for the rescission of six rules and revisions to nine others that affect the mortgage industry. These include regulations tied to servicing, the Real Estate Settlement Procedures Act (RESPA) and loan officer compensation,

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HUD secretary defends repeal of fair housing rule

Discrimination, Fair Housing, Housing Market, HUD, HWmember, National Fair Housing Alliance, Politics, Regulatory, Regulatory Compliance, Scott Turner, Trump administration /

In a strongly worded op-ed, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner defended the recent repeal of the Affirmatively Furthering Fair Housing (AFFH) rule. Turner argued in The Gazette, an Iowa-based newspaper, that AFFH represented a federal overreach into local housing decisions and hurt the very communities it claimed to help.

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House bill calls for bigger SALT tax breaks

Donald Trump, Homeownership, Housing Market, Politics, Regulatory, Tax, Trump administration /

The House tax committee is looking to raise the cap on the state and local tax deduction (SALT) and formally adopt several of President Trump’s campaign tax promises as part of a multi-trillion-dollar package, Republicans’ main legislative priority. The draft legislation, introduced by the tax-writing Ways and Means Committee in the House of Representatives on

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Feds accuse Trump adversary Letitia James of loan fraud

Fraud, Industry News, Legal issues and news, Trump administration /

New York Attorney General and long-time legal adversary to Donald Trump Letitia James faces a federal grand jury investigation involving her role in multiple mortgage transactions, according to several news sources.  The investigation, which is being led by the Department of Justice and the FBI, revolves around fraud allegations made by Federal Housing Finance Agency

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