News By Edition

The Consumer Financial Protection Bureau issued an advance notice of proposed rulemaking requesting stakeholder feedback on four issues with the bureau’s data privacy final rule, implementing Sec. 1033 of the Dodd-Frank Act. Dodd Frank Update consulted Garris Horn Partner John Levonick about the implications of the changes described in the document. 

Federal Reserve Chair Jerome Powell indicated his agency’s rate-setting committee is considering “adjusting” its monetary policy approach based on a confluence of data indicators. Some experts have read Powell’s words as signaling a potential rate cut could be on the horizon.

The mortgage industry offers a host of opportunities for real estate professionals, and many traditional lenders are pivoting to take advantage of different revenue streams and opportunities for repeat business by working with residential real estate investors. Megan Castleton, chief credit officer at Constructive Capital, discussed some of the eye-opening differences and similarities she noticed while making the shift from traditional mortgage lending to commercial lending during a conversation with Dodd Frank Update.

Experts rely on a wealth of data when formulating determinations about the housing market. October Research Chief Knowledge Officer and Keys to Real Estate host Mary Schuster spoke with Andy Walden, head of mortgage and housing market research at Intercontinental Exchange, about what metrics he believes serve as the most valuable indicators of what lies ahead for the marketplace.

New home purchase mortgage applications in June and July were higher than the same months last year, according to data published in the Mortgage Bankers Association Builder Application Survey.

Community banking advocates requested Senate leaders weave a series of amendments into the National Defense Authorization Act aimed at strengthening community development financial institutions across the country.

Orion Financial announced the addition of a well-respected professional with more than 40 years of experience as the company’s new mortgage lender and senior loan officer for its growing mortgage team.

The U.S. Court of Appeals for the D.C. Circuit ruled 2-1 in favor of allowing the Trump administration to move forward with plans to cut approximately 90 percent of staff at the Consumer Financial Protection Bureau via a reduction in force order. The plaintiffs are expected to request a rehearing of the case.

Federal banking regulators received multiple national bank charter applications from digital asset providers since early June, prompting concerns from trade advocates representing traditional financial institutions.

It was not too long ago that real estate professionals’ most pressing regulatory concerns stemmed from actions taken by the Consumer Financial Protection Bureau. However, under the Trump administration, the bureau looks very different operationally.

The financial services industry asked a federal court to clarify whether institutions can ignore the Consumer Financial Protection Bureau’s final rule implementing data privacy standards described in Sec. 1033 of the Dodd-Frank Act while waiting for the agency to issue a revised version of the regulation.

The Mortgage Bankers Association reported a notable drop in the delinquency rate among mortgage loans on one-to-four-unit residential properties in the second quarter.

The U.S. Treasury Department is seeking stakeholder feedback regarding implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, intended to create a comprehensive regulatory framework for stablecoin issuers in the United States.

The U.S. Court of Appeals for the D.C. Circuit ruled in favor of allowing the Trump administration to move forward with plans to drastically reduce staff at the Consumer Financial Protection Bureau in a divided decision.

New York Attorney General Letitia James announced she is suing Earning Warning Services (EWS), the company that operates the electronic payment platform Zelle, for failing to protect its users from fraud. EWS called the suit a “political stunt,” “overreach” and “meritless.”

Identifying possible “loopholes” in legislation establishing legal standards around stablecoins, scores of banking advocacy groups presented lawmakers a series of recommendations for addressing industry concerns before its scheduled implementation in January 2027.

The financial sector has expressed support for an executive order issued by President Donald Trump, directing federal banking regulators to take certain measures to promote access to banking services by identifying and rooting out “politicized” and “unlawful” debanking activities against certain businesses and individuals.

Despite some favorable economic conditions, uncertainty persists in the housing market as we enter the back half of 2025. In this complimentary webinar, Cotality Chief Economist Selma Hepp breaks down the Q3 Economic Outlook.

Real estate professionals are always concerned about protecting buyers, sellers and agents from the growing threat of wire fraud. Closinglock Founder and CEO Andy White discussed what industry stakeholders need to know now to secure transactions and customer trust while speaking on the Keys to Real Estate podcast.

Freddie Mac reported a drop in mortgage rates to their lowest levels since last October, according to the latest results of its Primary Mortgage Market Survey released on Aug. 14.

The U.S. District Court for the District of North Dakota vacated the Federal Reserve’s 2010 debit interchange rule after years of litigation over its legality. The ruling sparked criticism from consumer banking advocates who are hopeful the ruling will be appealed.

Several federal regulatory agencies issued an order granting banks and credit unions an exemption to a federal law implementing the Customer Identification Program Rule requirement to provide financial institutions flexibility in obtaining tax identification numbers from a third party, rather than directly from the customer.

Federal district judges have ordered the reinstatement of Democratic members of the Federal Trade Commission and the National Credit Union Administration who were fired earlier this year. One of the orders is being challenged in an appeals court.

Freddie Mac announced plans to expand its CHOICEHome mortgage program to include modern single-section manufactured homes among the conventional financing options that qualify for the program. The move will provide lenders more innovative financing options in an attempt to help increase the affordable housing supply.

The landscape of private property protections is evolving. David Deerson, an attorney with Pacific Legal Foundation’s property rights practice group, does not shy away from this subject matter during his recent sit-down with October Research Chief Knowledge Officer Mary Schuster for the latest episode of the Keys to Real Estate podcast.

Legislation to require Fannie Mae and Freddie Mac to consider digital assets when assessing single-family mortgage eligibility seeks to codify a directive issued by Federal Housing Finance Agency Director Bill Pulte.

President Donald Trump has nominated Stephen Miran, who chairs the president’s Council of Economic Advisers, to join the Federal Reserve Board of Governors, filling the seat vacated by Adriana Kugler. Kugler announced her resignation on Aug. 1.

Three Department of Justice attorneys stand accused of making “materially misleading” statements and declarations while defending the Trump administration in the case of National Treasury Employees Union v. Consumer Financial Protection Bureau.

Consumer Financial Protection Bureau Chief Legal Officer Mark Paoletta defended the agency’s budget authority in response to questions raised by the Government Accountability Office in a June letter.

The Federal Housing Finance Agency will double the permissible amount the government-sponsored enterprises can invest in Low Income Housing Tax Credit properties in an effort to expand the available affordable housing supply.

The Federal Reserve is looking for seven individuals with expertise in a variety of insurance-related matters to serve on its Insurance Policy Advisory Committee.

Sen. Kirsten Gillibrand (D-N.Y.), ranking member of the U.S. Senate Aging Committee, introduced an anti-scammer act to restore Consumer Financial Protection Bureau funding.

Federal Reserve Board Gov. Adriana Kugler announced her resignation from the board, effective Aug. 8. Kugler’s early departure opens the door for President Donald Trump to nominate her replacement.

The Consumer Financial Protection Bureau rescinded a final rule describing notification procedures state officials must follow when initiating an enforcement action invoking the Consumer Financial Protection Act.

The Consumer Financial Protection Bureau resolved a lawsuit against FirstCash, Inc., and 19 of its subsidiaries, stemming from alleged Military Lending Act violations filed in November 2021.

President Donald Trump nominated Frank Cassidy to serve as Federal Housing Administration commissioner on Aug. 2. The mortgage industry welcomed the news of the nomination.

Ginnie Mae Executive Vice President and Chief Operating Officer Joseph Gormley has been nominated to serve as president of the government-owned corporation that operates within the U.S. Department of Housing and Urban Development.

The Homebuyers Privacy Protection Act (H.R. 2808), which would ban the use of mortgage trigger leads, passed by unanimous consent in the Senate on Aug. 2. The industry-supported bill will move on to the president’s desk to be signed into law.

Federal Reserve Board Gov. Adriana Kugler announced her resignation from the board, effective Aug. 8. Kugler’s early departure opens the door for President Donald Trump to nominate her replacement.

Despite intense pressure from President Donald Trump to lower interest rates, the Federal Open Market Committee voted to maintain the federal funds target rate at a range between 4-1/4 and 4-1/2 percent at its July meeting. Two committee members dissented, marking the first time in more than 30 years more than one Fed governor has done so.

The Consumer Financial Protection Bureau announced its intent to revisit its Personal Financial Data Rights final rule on July 29 and issue a revised version within three weeks of the notice.

The Federal Housing Finance Agency is seeking feedback on a proposed rule repealing its regulation outlining the government-sponsored enterprises’ fair lending obligations as defined by various statutes, as the agency works to align its policies with the Trump administration’s directives outlawing practices promoting “Diversity, Equity and Inclusion.”

The Consumer Financial Protection Bureau terminated a consent order with VyStar Credit Union and its CEO related to consumer harm caused by the company’s botched rollout of its mobile and online banking system.

The Mortgage Bankers Association’s 2025 Home Equity Lending Study revealed sizable upticks in originations and outstanding debt among homeowners seeking to tap into their home’s equity last year.

A government watchdog organization has accused the Trump administration of attempting to “evade public accountability” by way of the Administrative Procedures Act’s “good cause exception,” allowing federal agencies to finalize rules without adhering to public notice and comment requirements.

The Consumer Financial Protection Bureau is being sued over its decision to withdraw its final rule implementing small business lending requirements outlined in Sec. 1071 of the Dodd-Frank Act. Multiple plaintiffs are seeking declaratory and injunctive relief under the Administrative Procedure Act and the Equal Credit Opportunity Act.

Wells Fargo is facing a federal lawsuit filed in California over allegations that the bank failed to properly disclose certain fees incurred during mortgage loan originations. The suit was triggered after the bank self-initiated refunds to borrowers, citing thousands of dollars in so-called “float fees.”

A coalition of 72 community, civil rights, consumer, civic and other organizations sent a letter to Chairman French Hill (R-Ark.) and Ranking Member Maxine Waters (D-Calif.) of the House Committee on Financial Services, urging them to oppose several bills that would “undermine the Consumer Financial Protection Bureau (CFPB) and threaten its statutorily mandated consumer protection mission.”

Senate leaders introduced bipartisan legislation with the potential to help address the nation’s housing affordability crisis. The measure would incentivize communities to rethink policies that may inhibit new home construction and small-dollar mortgages, among other things.

The financial services industry took note of several legislative pieces recently passed by the House Financial Services Committee as Congress prepares to enter its summer recess. Learn about some of these bills in this regulatory roundup.

President Donald Trump signed legislation intended to establish a federal regulatory framework for U.S. dollar-backed stablecoins. The Guiding and Establishing National Innovation for U.S. Stablecoins Act, S. 1582, defines “payment stablecoins” and the types of entities permitted to issue them.