Trustmark National Bank is enjoying an early exit from a consent order stemming from a Biden-era redlining investigation. The Jackson, Mississippi-based lender and servicer is free of the settlement with regulators 17 months early, following a federal judge’s approval last week. The Department of Justice, the Consumer Financial Protection Bureau and the Office of the […]
Trustmark gets early exit from redlining consent order Read More »
The Federal Reserve and several industry groups have agreed to put their lawsuit over stress testing on pause, an outcome that gives all sides a reprieve without sacrificing their legal optionality. Late last week, the Fed joined the Bank Policy Institute, the American Bankers Association, the U.S. Chamber of Commerce and a pair of Ohio
Stress-test suit pause lets all sides fight another day Read More »
The Trump administration wants to back off yet another mortgage-related lawsuit, aiming to exit a dispute between borrowers and Mr. Cooper over alleged servicing junk fees. The Consumer Financial Protection Bureau asked a judge to withdraw its amicus brief supporting plaintiffs challenging Mr. Cooper’s $25 expedited payoff quote statements. In that brief filed last August,
CFPB backs off Mr. Cooper ‘junk fee’ lawsuit Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News Federal Reserve Gov. Lisa Cook said that financial markets fared well in the face of uncertainty sparked by President Trump’s evolving tariff regime, but that more study is needed to understand how risks from nonbanks affect the banking system and vice versa. Speaking at a conference at New York
Fed’s Cook: More study needed on bank-nonbank interreliance Read More »
State Farm is going back to California’s regulator for a higher homeowners rate increase. One week after State Farm General, the California division of the State Farm parent company, won approval from California insurance commissioner Ricardo Lara for a 17% emergency rate increase, effective June 1, it amended its previous increase request. State Farm General
State Farm’s added California rate hike request gets pushback Read More »
Bloomberg News As banks provide the liquidity that fuels private credit lending — even without originating the loans themselves — researchers at the Federal Reserve say traditional lenders risk being dragged into a financial crisis if defaults among private credit borrowers spike. In a new paper, Boston Fed researchers José L. Fillat, Mattia Landoni, John
Fed paper flags ‘underappreciated’ risks of private credit Read More »
The Mortgage Bankers Association expects regulatory easing in the first months of the second Donald Trump administration to provide favorable tailwinds for the lending industry, its top official said on Tuesday. With a release from a series of existing and pending rules put forth by financial regulators under former President Biden, the association’s CEO Bob
Trump regulatory changes benefit industry, MBA leader says Read More »
Ingrid Ripley of the Rural Housing Service, Julie Shaffer of the U.S. Department of Housing and Urban Development, and David Sheeler of Freedom Mortgage speak May 19, 2025 in New York City at the Mortgage Bankers Association’s Secondary & Capital Markets Conference.Andrew Martinez/National Mortgage News Government mortgage officials say they’re tidying up operations following the
FHA, Rural Housing Service comment on job cuts Read More »
John Heltman A panel of appellate judges will decide whether the Trump administration can fire 90% of the Consumer Financial Protection Bureau’s staff through a reduction-in-force without impacting the agency’s legally-mandated work. On Friday afternoon, a three-judge panel of the U.S. Court of Appeals for the District of Columbia heard oral arguments on whether a
Appeals court hears CFPB argument for 90% reduction in force Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. The Consumer Financial Protection Bureau’s headquarters located in Washington D.C.Frank Gargano The Consumer Financial Protection Bureau has been in a freefall since former Director Rohit Chopra was ousted in February, kickstarting a game of musical chairs at the top of the agency
Deregulation is the new norm at the CFPB, and banks love it Read More »
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