Forget jobs or inflation, credit is what matters. And credit is…
When banks start reporting earnings next week, keep a close eye on what they say about credit growth.
Law and regulation
CFPB makes changes to complaint portal, citing abuse
The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.
Trump picks Brian Johnson, former CFPB No. 2, to lead bureau
The White House has nominated Brian Johnson, the former CFPB deputy and a veteran Capitol Hill staffer, to permanently lead the bureau.
CFPB sued over new rule that would weaken fair-lending laws
Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.
Citing bad loans, USDA bars a group of lenders from lending program
The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.
How Trump’s EO could redraw QM’s safe harbor lines
The new executive order could add lender competition for self-employed borrowers, potentially via a small loan carveout and one for portfolio products.
SBA’s new eligibility rules expected to funnel loans to nonbanks
As the Trump administration limits access to only U.S. citizens, volume in the Small Business Administration's flagship loan program is already trailing the 2025 pace. Experts predict that the tighter eligibility criteria will send more loans to nonbanks.
Can Trump fire nearly all CFPB staff? Appeals court isn’t sure
Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
CFPB shutdown battle reaches crucial D.C. Circuit hearing
The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
States, mortgage regulators call for end to OCC escrow moves
Preemption would hurt affordability for many, the Conference of State Banking Supervisors and the American Association of Residential Mortgage Regulators said.
Private flood insurance growing as federal coverage recedes
Numbers on use and performance point to potential for nonpublic insurers to take on a greater role but also suggest there are limits to it, Fitch Ratings found.
Demand for SBA loans rises, main program may reach ceiling
The Trump administration's fiscal 2026 budget carries over 7(a)'s $35 billion funding authority for a fourth consecutive year, even though lending has grown significantly
Small-business advocates concerned about SBA’s new role
The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.
CFPB bans arbitration platform for deceiving student borrowers
Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.
Mellecker joins Kirkland & Ellis as partner
Mellecker, a former Goldman MD, will focus on a range of securitizations, structured private credit deals and private placements in its structured finance and structured private credit practice.
New wave of challenges to CFPB’s funding gains steam
Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."
Regulators extend comment period on Basel III endgame proposal
Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.
Federal court rules against servicers in pay-to-pay lawsuit
The class action case, first brought up in 2020, accused Lakeview Loan Servicing and LoanCare of violating the Texas Debt Collection Act by charging "junk" fees.
CFPB seeks to limit banks’ ability to collect on delinquent HELOCs
In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.
Ocwen-CFPB case sent back to lower court
The Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.
Load More
Couldn’t load more articles. Try again.