Qualified Mortgages

One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.

Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday.

The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered too harsh on financial firms.

The Treasury plan includes a slew of items that don’t require Congress to act, and appear feasible in the short term. Here's a guide to what changes could be made.