Acting CFPB Director Outlines New Agency Actions, Aims at Mortgage Servicers

Dave Uejio, acting director of the Consumer Financial Protection Bureau (CFPB), announced late last week some changes to the agency’s policies he outlined in an email to Bureau staff. Because of the scale of the announcement, Uejio elected to release the email publicly via the CFPB’s official blog. “I know that the Bureau’s staff shares […]

Acting CFPB Director Uejio Plans for Active Role in Interim Posting

Acting Director of the Consumer Financial Protection Bureau (CFPB) David Uejio does not intend to be a passive functionary as Biden administration nominee Rohit Chopra awaits Senate confirmation, telling staff in an email that he intends to begin focusing on the new administration’s priorities ahead of Chopra’s confirmation. This is according to an internal CFPB […]

HUD Acting Leadership Geared Toward Crisis Response, as CFPB Gets New Acting Director

The U.S. Department of Housing and Urban Development (HUD) has installed a new acting leadership team and a new permanent chief of staff, while the Consumer Financial Protection Bureau has also appointed a new acting director while new full-time positions are awaiting the Senate confirmation process according to announcements issued by the White House and […]

CFPB Director Kraninger Resigns As Biden Takes Office

Director of the Consumer Financial Protection Bureau (CFPB) Kathleen Kraninger has resigned from her position as head of the agency, reportedly at the request of the Joe Biden administration. This is according to the former director herself, issuing a tweet including her resignation letter on Wednesday afternoon. In her letter addressed to President Biden, Kraninger […]

Biden’s CFPB Nominee Signals Return to Bureau’s Original Posture

President-elect of the United States Joe Biden has nominated Federal Trade Commissioner Rohit Chopra to serve as the new director of the Consumer Financial Protection Bureau (CFPB), signaling that the incoming Biden administration aims to return the Bureau to its original enforcement posture according to reporting at the Washington Post. Chopra, who has served as […]

Look Out for These 4 Reverse Mortgage Industry Trends in 2021

Now that we’ve all opened presents and sang our renditions of “Auld Lang Syne,” it’s time to get back to work. The reverse mortgage industry is on the cusp of another eventful year in 2021 because of a lot of different components including changes to the Home Equity Conversion Mortgage (HECM) lending limit, a new […]

Bloomberg: Wall Street ‘Worried’ Over Possible CFPB Revival

The American financial sector is concerned about the potential actions of the Consumer Financial Protection Bureau (CFPB) in 2021, owing to changes that the incoming administration could make to the agency’s regulatory posture particularly as it pertains to the Bureau’s use of its enforcement authority. This is according to reporting at Bloomberg. “Banks should be […]

Why Reverse Mortgage Professionals Should ‘Stay in Their Lane’

A reverse mortgage professional can often be seen as many things to current and prospective clients, which is likely unavoidable in many cases due to the far more consultative nature of the reverse mortgage product when compared to its forward counterpart. However, this is precisely what can lead to many reverse mortgage professionals wanting to […]

Biden Transition Brings Familiar Names Back into CFPB’s Orbit

Moving ahead with his transition in anticipation of his inauguration in January, President-elect of the United States Joe Biden has begun to look at what role he would like the Consumer Financial Protection Bureau (CFPB) to play in his upcoming administration. To that end, Biden recently appointed Leandra English, former deputy director of the CFPB, […]

WSJ: Biden Presidency Would Mean Greater CFPB Presence for Mortgage Lenders

With less than one week remaining until general election ballots in the U.S. are counted, financial firms and traditional mortgage lenders across the country are preparing for the possibility that former Vice President Joe Biden could become the next President of the United States. If Biden wins, then the possibility accompanying that win would be […]