CFPB declares most agency rules still valid after high court decision
The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.
Regulation and compliance
Supreme Court ruling eliminates autodialer use for FHA, VA collections
The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.
House clears extension of PPP to August
The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.
Will CFPB advisory opinions offer clarity, or give companies a pass?
The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.
Groups urge FHFA to extend comment period on GSE capital plan
In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.
Dodd-Frank has softened blow of pandemic, its authors say
Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.
Bryn Mawr in Pennsylvania to sell its PPP loans
The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.
After ruling, stage set for new battles over CFPB’s future
The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.
Supreme Court strikes down CFPB leadership structure
In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.
CFPB gives mortgage servicers relief to help struggling homeowners
A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.
Treasury, SBA to disclose identities of large PPP borrowers
The agencies said late Friday that they will provide information on small businesses that received $150,000 or more from the Paycheck Protection Program.
Lenders, lawmakers push for PPP extension despite tepid demand
Activity in the Paycheck Protection Program has waned, but some argue that many small businesses, especially those owned by minorities, will miss out if the June 30 application deadline isn't extended.
Consumer advocates allege bias in CFPB task force
A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act.
GSEs hire Morgan Stanley, JPMorgan Chase as financial advisers
As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.
Congressional scrutiny of PPP grows amid national focus on racism
Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.
California tables ‘mini-CFPB’ idea — for now
A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.
Fed sets date for release of 2020 stress tests, COVID-19 analyses
Unlike in previous years, the results from two different evaluations will be released simultaneously and will include an assessment of bank capital under coronavirus-related scenarios.
GSE capital plan would make buying a home more expensive, critics say
The FHFA’s proposal is intended to strengthen Fannie Mae and Freddie Mac, but many experts warn that it could boost guarantee fees for lenders that they say may be passed on to borrowers.
States try to help borrowers left out of federal forbearance plans
One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.
Regulator sets new goal for Federal Home Loan Banks
The new FHFA rule sets a percentage-based threshold to measure compliance, rather than Home Mortgage Disclosure Act data.
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