The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

The House has passed legislation that would make financial institutions report credit application data relating to LGBTQ-owned businesses to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws.

President Biden has informed the Senate he wants Uejio, the acting head of the Consumer Financial Protection Bureau, to be an assistant secretary at the Department of Housing and Urban Development.

In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.

Any bank that engages in auto, mortgage or other retail lending should develop a comprehensive program to identify potential risks of noncompliance with consumer protection rules and take corrective actions before the Biden-era Consumer Financial Protection Bureau comes calling.

The departures of Bryan Schneider and Peggy Twohig come as the Biden administration's nominee to run the consumer bureau awaits Senate confirmation.

Ally and Huntington are the latest banks to take steps that will reduce revenue from customers who spend money they don’t have. The moves come at a time when technological, regulatory and social forces are converging to encourage change.

With Rohit Chopra’s nomination now in its fourth month, some of the consumer bureau's rulemaking efforts remain on hold. Experts say Democrats first want the Senate to confirm a new member of the Federal Trade Commission to replace Chopra so that Republicans don't gain control.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

Some banks are removing the term “sales” from training materials out of fear regulators will accuse them of unethical, high-pressure tactics. But that’s an overreaction to federal probes of extreme cases — sales are essential to growth.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

Fannie and Freddie's regulator says the companies must comply with the new Qualified Mortgage standard by the summer, while the Consumer Financial Protection Bureau has extended the deadline to 2022. The conflicting timetables have stoked uncertainty in the market.

The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about whether the Consumer Financial Protection Bureau under President Biden is poised to bring more enforcement actions against large banks than it did under Trump-appointed Director Kathy Kraninger.

The probe is the latest example of the consumer bureau scrutinizing sales tactics at big banks following the Wells Fargo fake-accounts scandal. U.S. Bancorp said it is cooperating fully.

Most executives are comfortable crossing over $1 billion of assets, where more frequent exams are the biggest supervisory change. But few are eager to take on the compliance burdens that accompany the jump above $10 billion.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.

Two new government reports suggest that U.S. consumers’ fortunes have improved since the start of the pandemic, with bankruptcies falling sharply and fewer people falling behind on bills. But it’s not clear how long the positive trends will sustain themselves as government relief efforts wind down and evictions and foreclosures resume.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

Looming defaults and the potential for heavier regulatory scrutiny have prompted banks to pull back from the sector. Is that a good thing?