Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule. ... Read full article
House Financial Services Committee Chairwoman Maxine Waters and over a hundred other lawmakers want the agency to go forward with a mandatory underwriting requirement for payday loans. ... Read full article
Sen. Elizabeth Warren, D-Mass., and three House members are seeking more details about Paul Watkins' past work with an organization the Southern Poverty Law Center says is an anti-LGBTQ hate group. ... Read full article
With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start. ... Read full article
Four advocacy groups questioned why the consumer bureau did not ask a judge to lift a stay of the rule's payment provisions. ... Read full article
Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains. ... Read full article
The mortgage industry was caught off guard by regulators’ decision to cease special treatment for Fannie Mae and Freddie Mac in complying with underwriting rules. But how big of an impact will the new policy have? ... Read full article
The agency’s director said it will let a temporary GSE exemption from the “qualified mortgage” regulation expire. ... Read full article
The consumer bureau said banks are "uniquely positioned" to know if an elderly customer is being targeted by fraudsters. ... Read full article
New York Attorney General Letitia James said there is “no basis to believe” that the overdraft rule has harmed small banks and credits unions. ... Read full article
The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice. ... Read full article
Democratic lawmakers argue that Paul Watkins' former employment at a "homophobic hate group" makes him unfit to lead the agency's innovation office. Watkins says he did no advocacy work for that organization. ... Read full article
Christine Lagarde, the head of the International Monetary Fund, refuses to attend any meetings in which she would be the only woman; Sallie Krawcheck says the fact that women still are paid less than men is partly the fault of society at large; and more in ... Read full article
In her first four and a half months, Kathy Kraninger met with lawmakers more than twice as often as her predecessor, but her schedule demonstrates willingness to meet with industry and policy stakeholders from various camps. ... Read full article
The agency announced the series in April as an effort to encourage public dialogue on policy issues. ... Read full article
The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule. ... Read full article
The industry continues to push for an overhaul of the bureau’s leadership structure, but both parties seem uninterested. ... Read full article
The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important. ... Read full article
Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act. ... Read full article
All Democrats supported the bill focused on the decisions of former acting CFPB Director Mick Mulvaney, while all Republicans opposed it. ... Read full article
