Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.
The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.
The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.
The Consumer Financial Protection Bureau wants to make it easier for those who lack bank accounts to receive pandemic relief payments authorized by Congress.
The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.
Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.
Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.
Leonard Chanin, a senior official at the Federal Deposit Insurance Corp., has been tapped to serve on a part-time basis as the No. 2 official at the Consumer Financial Protection Bureau, according to a news report.
