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Filing Instruction Guide for 2025 HMDA data submission is released

The CFPB recently announced that the Filing Instruction Guide (FIG) for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2025 is now available. The FIG, issued by the Federal Financial Institutions...more

Federal District Court on September 23, 2024, entered final judgement in favor of the CFPB in lawsuit challenging its small...

Judge Randy Crane (E.D. Tex) ruled on August 26, 2024 that the CFPB did not exceed its authority under Dodd Frank when it issued its final Section 1071 small business lending rule. The court also rejected other Administrative...more

Plaintiffs free to appeal CFPB 1071 Rule after some plaintiffs drop their CFPB unlawful funding claim

On August 26, 2024, Chief Judge Randy Crane in the E.D. Texas granted summary judgment to the CFPB, denied summary judgment to the trade groups and upheld the CFPB’s 1071 Rule (small business loan data collection rule)....more

CFPB Releases Updated 1071 Filing Instructions Guide

On August 16, 2024 the CFPB issued an updated 2025 Small Business Lending Filing Instructions Guide (the “Guide”). The Guide provides updated compliance dates that correspond to the new compliance dates....more

CFPB Appeals District Court’s Decision to Vacate Changes to UDAAP Exam Manual

On August 8, 2024, the CFPB filed its Appellant Brief with the Fifth Circuit, appealing the September 2023 decision by the Federal District Court for the Eastern District of Texas that vacated the March 2022 changes to the...more

Kentucky Court Grants a Stay of Case Pending a Decision in the Texas Small Business Lending Lawsuit

On August 7, 2024, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay the small business lending rule litigation before the court until resolution of the similar case pending in the...more

CFPB Releases Interim Final Rule Extending 1071 Compliance Dates

On June 25th, the CFPB issued an interim final rule with a request for public comment extending the compliance dates for the Small Business Lending Rule in light of the Supreme Court’s decision finding the funding structure...more

CFPB Issues RFI on Mortgage Closing Costs

The Consumer Financial Protection Bureau (CFPB), recently issued a Request for Information (RFI) related to fees charged by providers of mortgages and related settlement services. In his statement, Director Chopra discussed...more

CFPB Director Addresses Credit Report Fees Before the Mortgage Bankers Association

As part of the CFPB’s crusade against junk fees, CFPB Director, Rohit Chopra addressed credit report fees in prepared remarks at the Mortgage Bankers Association’s Secondary & Capital Markets Conference & Expo 2024. While...more

CFPB’s Office of Minority and Women Inclusion Publishes Annual Report to Congress

The CFPB’s Office of Minority and Women Inclusion (OMWI) provided its annual report to Congress covering the agency’s efforts in 2023. Section 342 of the Dodd-Frank, Wall Street Reform, and Consumer Protection Act...more

CFPB Files Cross-Motion for Summary Judgment in Texas Small Business Lending Rule Lawsuit

The CFPB (or “Bureau”) filed a cross-motion for summary judgment in the lawsuit regarding the small business lending data collection and reporting rule, also known as the 1071 rule based on the Dodd-Frank section that...more

CFPB Publishes Consumer Response Annual Report

The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

CFPB Publishes Language Access Plan for Consumers With Limited English Proficiency

Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

CFPB Language Access Plan for Consumers with Limited English Proficiency

Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

DOJ Redlining Consent Order With Ameris Bank

Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville,...more

Attorney General Merrick Garland Remarks on the DOJ’s Success in Combating Redlining

On October 19, 2023, the Department of Justice (DOJ) announced that its Combating Redlining Initiative has resulted in over $107 million in relief for communities adversely affected by lending discrimination by mortgage...more

DOJ Settles Redlining Claims in Rhode Island

The Department of Justice (DOJ) announced a settlement agreement with Washington Trust Company, of Westerly (WTC) to resolve claims that WTC redlined majority Black and Hispanic neighborhoods in Rhode Island....more

Appraisal Subcommittee to Host Public Hearing on Appraisal Bias

The Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) is scheduled to host a public hearing on Wednesday, November 1, 2023. The upcoming hearing on appraisal bias will focus on how residential...more

CFPB Appoints New Members to Advisory Committees

On October 5, the CFPB published the list of new members appointed to serve on the Consumer Advisory Board and each Council group....more

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