Author name: Ricky Vasquez

Senate Democrats have accused Consumer Financial Protection Bureau (CFPB) acting director Russell Vought of stripping away key consumer protection resources and obscuring past enforcement work in a letter sent on Monday.  “Your decision deprives Americans of key resources and is yet another giveaway to companies intent on scamming the public of their hard earned dollars,” […]

Homebuyer affordability deteriorated in May as higher mortgage rates and larger loan application amounts pushed monthly mortgage payments higher, according to data released Thursday by the Mortgage Bankers Association (MBA). The MBA’s Purchase Applications Payment Index (PAPI), which measures mortgage payment burdens relative to income, rose 2.2% to a reading of 159.4 in May. —

Processing Content Key insight: Critics argue the OCC is stretching National Bank Act preemption beyond the limits Congress imposed in Dodd-Frank, while banks say uniform standards are essential to avoid a patchwork of state laws. Supporting data: The OCC issued two interchange-related interim final rules in April: one affirming banks’ authority to charge fees set