Kate Berry

The Consumer Financial Protection Bureau says Amazon, Apple, Facebook, Google, PayPal and Square must provide details on their use of personal payments data to ensure consumers' privacy is protected and that the data isn't shared without consent.

After permitting remote appraisals on an interim basis during the pandemic, Fannie Mae and Freddie Mac will accept them outright starting in early 2022, the acting head of the Federal Housing Finance Agency said.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

Zixta Q. Martinez has been with the Consumer Financial Protection Bureau since its inception a decade ago and most recently was a senior advisor in the supervision, enforcement and fair-lending division.

Silvio Tavares, the former chief executive of the Digital Commerce Alliance, will lead the credit-bureau analytics firm.

Banks, credit card issuers and debt collectors all supported the Consumer Financial Protection Bureau’s revised regulations. But they face a steep learning curve in complying with the rules, which take effect Nov. 30.

Housing will still be a priority of the Consumer Financial Protection Bureau, but newly confirmed Director Rohit Chopra is also expected to investigate discrimination in the Paycheck Protection Program and bias in AI-powered lending algorithms.

Rohit Chopra, a liberal consumer watchdog, was approved as the agency’s director nine months after the Biden administration first announced him as the nominee.

Acting Director Sandra Thompson said the Federal Housing Finance Agency is considering changes to the risk-based fees that critics say have disproportionately hurt minority borrowers of low down-payment loans.

The Federal Reserve’s efforts to update supervision policy can result in institutions having the flexibility they need to compete with fintechs, according to Gov. Michelle Bowman.

The Consumer Financial Protection Bureau may investigate cryptocurrency providers for mistreating customers, but the agency’s supposed interest in the burgeoning sector is reviving a debate about the CFPB’s authority.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

A long to-do list — from developing mortgage servicing requirements to revisiting payday lending rules — awaits Rohit Chopra, the administration’s choice to lead the consumer bureau. But it's still anyone's guess when the Senate will confirm him.

Bankers worry the proposed reporting requirements on small-business loans will be used to shame lenders for neglecting minority-owned firms. Community groups are already preparing to use the data to point out racial disparities.

The consumer bureau is suing the online lender for allegedly violating a 2016 consent order involving its marketing claims. Acting Director Dave Uejio said the company doubled down “after getting caught the first time.”

The agency proposed reporting standards for any institution that originates 25 or more small-business loans a year. The measure would be especially burdensome for very small lenders and could limit credit access in underserved communities, critics say.

A predecessor bank, Allegiant Bancorp of St. Louis, was accused of fraud and breach of fiduciary duty in connection with a scheme run by a seller of funeral contracts.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The U.S. and its neighbor to the north are each developing frameworks to give consumers control over financial data and allow companies to transfer account information. A recently issued Canadian government report could influence efforts in both countries, analysts say.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.