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The volume of guidance withdrawn by the Consumer Financial Protection Bureau’s in May has raised many eyebrows among regulators, attorneys and financial professionals. One of the most notable examples is an interpretive rule concerning states’ ability to enforce federal consumer protection laws against national banks and federal savings associations.

Perhaps the most consequential scrutiny of the Republican-led congressional budget package lies in the hands of the Senate parliamentarian’s office, which determined several of the budget bill’s provisions violate Senate rules pertaining to budgetary matters while deeming others to be permissible.

Members of the House Financial Services Subcommittee on Oversight and Investigations debated whether, and to what extent, the Consumer Financial Protection Bureau improperly weaponized its enforcement authority against certain “disfavored” sectors of the financial marketplace under former Director Rohit Chopra.

U.S. Department of Housing and Urban Development Secretary Scott Turner announced that his agency will be relocating from Washington, D.C., to the headquarters of the National Science Foundation (NSF) in Alexandria, Va. Turner made the announcement during a press conference held at the current NSF headquarters on June 25.

The Mortgage Bankers Association found mortgage applicants’ payments increased in May, indicating a decline in homebuyer affordability as mortgage rates remained near 7 percent.

The Federal Housing Administration notified the industry it is seeking comments regarding Buy Now, Pay Later loans via a request for information published in the Federal Register.

Legislation aimed at prohibiting the use of “trigger leads” involving the sale of consumer credit information to solicit lending services to homebuyers moved a step closer to becoming law after both the Senate and House passed the Homebuyers Privacy Protection Act.

The Federal Open Market Committee voted to maintain the federal funds target rate at a range of 4-1/4 percent to 4-1/2 percent, citing a confluence of positive and negative economic indicators warranting a measured approach in the eyes of its members. The decision aligns with projections by mortgage industry leaders but elicited harsh criticism from President Donald Trump.

An Illinois federal judge denied a motion filed by the Consumer Financial Protection Bureau and Chicago mortgage broker Townstone Financial to vacate the settlement the two parties reached to resolve allegations of redlining against Townstone. One of the attorneys representing Townstone spoke to RESPA News, a sister publication to Dodd Frank Update, about the decision.

One of the key shifts in data privacy best practices is an emphasis on a concept known as “anonymization.” ICE Vice President of Loan Data Products Conrad Ficca spoke with Dodd Frank Update about the benefits of a new approach to data privacy and other key considerations for a technology provider entrusted with protecting sensitive personal identifying information (PII) from a dataset.

If you are a business owner or a real estate professional who is unsure how certain aspects of the economy will impact you, you could likely benefit from Dr. Bill Conerly’s straight forward, to-the-point discussion with October Research Chief Knowledge Officer Mary Schuster on our Keys to Real Estate podcast.

The Securities and Exchange Commission charged the former CEO of a real estate investment business with defrauding approximately 200 investors out of at least $46 million through an elaborate “Ponzi-like” scheme. In a parallel action the Department of Justice announced criminal charges in the matter.

Lawmakers are being urged to support policies designed to help builders increase the production of quality, affordable housing. More than 1,000 builders, remodelers and associates of the residential construction industry brought their advocacy efforts to Washington, D.C. for the National Association of Home Builders 2025 Legislative Conference.

President Donald Trump has vowed to end the conservatorship of Fannie Mae and Freddie Mac, drawing concerns and criticism from some lawmakers about the lack of details about how the administration plans on doing so and the potential impact to the mortgage market and the broader financial system.

Credit availability rose by 2.1 percent in May, based on the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI). The MCAI is calculated by analyzing several factors related to borrower eligibility using data provided by ICE Mortgage Technology.

The Consumer Financial Protection Bureau announced its intent to distribute more than $4 million in long-awaited restitution to consumers harmed by a job training company’s deceptive marketing and unfair debt collection practices after receiving pressure from several state attorneys general.

Attendees at this year’s National Settlement Services Summit (NS3) not only had the opportunity bring some joy to families in the Pittsburgh area through the annual “Make a Child Smile” community service event, but they also supported a non-profit near and dear to one of their colleagues.

An attorney with more than 20 years of mortgage industry experience launched a national law firm in California, focused on regulatory compliance.

Community banking advocates across the country urged Senate leaders to include legislation to reduce loan interest costs for farmers, ranchers and rural homeowners in a letter endorsed by the Independent Community Bankers of America and 44 state affiliates.

Federal Reserve Chair Jerome Powell appointed a new leader of the Fed Office of Inspector General, who will have oversight of the Consumer Financial Protection Bureau as well. Days later, the Fed announced its intent to investigate efforts to make massive staff cuts at the bureau ahead of his arrival.

The results of the Federal Reserve’s latest Senior Financial Officer Survey results indicated most bankers expect their balance sheets to remain unchanged over the next six months and plan to prioritize retention rather than growth strategies, with some exceptions.

More than 40 speakers will take the stage over three days this week at the 21st National Settlement Services Summit (NS3) at The Westin Pittsburgh in Pittsburgh, Pa. Over 600 attendees will hear from them during 18 sessions.

The month of June began in similar fashion to the previous two months – with a double-digit jump in mortgage application volume, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

The U.S. Senate confirmed a new deputy secretary of the U.S. Department of Housing and Urban Development (HUD) with a vote of 51-43. He previously served as HUD chief of staff under former HUD Secretary Ben Carson.

The mortgage industry welcomed the passage of bipartisan legislation in the Senate prohibiting the use of “trigger leads.” The vote came shortly after nearly identical legislation passed the House Financial Services Committee with a minor amendment.

The Consumer Financial Protection Bureau singled out rulemakings pertaining to its Loan Originator Compensation (LO Comp) rule and mortgage servicing rules for review by the Office of Management and Budget. The inclusion of the word “rescission” in the official title listed for the LO Comp rulemaking has raised questions among legal experts.

The Consumer Financial Protection Bureau asked a federal court to vacate the agency’s data privacy rule, implementing Sec. 1033 of the Dodd Frank Act. The bureau’s arguments against its own rule paralleled those expressed by its most ardent detractors.

The state of New York approved a series of consumer protection laws targeting exploitative corporate practices as part of its 2026 budget package. Among the notable portions of the legislation is its establishment of state-level oversight for Buy Now, Pay Later lenders.

Acting comptroller of the currency Rodney Hood defended federal preemption regulations employed by the Office of the Comptroller of the Currency in a letter to the Conference of State Bank Supervisors, saying the regulations are consistent with Dodd-Frank.

The Independent Community Bankers of America has expressed conditional support for several of Nacha’s proposed amendments to the Automated Clearing House operating rules, emphasizing the need for balanced implementation while considering operational risks and fraud prevention.

A myriad of trade advocates emphasized their support for legislation seeking to impose a widely supported prohibition on “trigger leads,” sold by credit agencies when consumers apply for residential mortgage loans, in letters to House committee leaders.

The Senate voted to confirm Michelle “Miki” Bowman to serve at the Federal Reserve’s vice chair for supervision. The financial services industry, which has expressed strong support for Bowman since her nomination in March, reacted favorably to her confirmation.

The Federal Deposit Insurance Corp. released the results of its quarterly banking profile, summarizing financial data collected from 4,462 insured commercial banks and savings institutions for the first quarter.

A clean energy trade organization has filed a legal complaint in federal court targeting Consumer Financial Protection Bureau leadership and the agency’s Property Assessed Clean Energy final rule, claiming it will harm its members.

October Research Chief Knowledge Officer and Keys to Real Estate podcast host Mary Schuster discussed why engagement between industry professionals and their regulators is so important while speaking with a pair of incredibly personable leaders of the National Association of Insurance Commissioners, which regulates the title insurance industry.

The U.S. Treasury Department issued a request for information connected to Executive Order 14247, titled “Modernizing Payments To and From America’s Bank Account.”

Legislation seeking to establish a clear regulatory framework for stablecoins has drawn pushback from the financial services sector over a requirement pertaining to credit card transactions. Critics claim this provision will increase fraud risk and increase credit costs.

The Consumer Financial Protection Bureau and the Department of Justice filed a motion in U.S. District Court to terminate a 2021 consent order with a Jacksonville, Miss., lender which was accused of redlining. The order was scheduled to expire in October 2026.

The American Bankers Association wrote to the Department of Housing and Urban Development Secretary Scott Turner, urging his agency to rescind its current disparate impact rule and go back to a version introduced in 2020. Debate over the rule has been ongoing since the rule was first issued in 2013.

The 2025 National Settlement Services Summit (NS3) will take place June 16-18 at the Westin Pittsburgh in Pittsburgh, Pa. A panel session titled, “The Impact and Benefits of Instant Payments to Real Estate Settlement Services,” is set for the final day of the conference.

Amid ongoing discussions about housing affordability, federal regulators published information about states where home prices have seen the most significant increases over the past year. Learn more about this and other topics in this roundup.

Senators pressed the Department of Justice to investigate whether Department of Government Efficiency employees broke conflict of interest laws by cutting staffing at government agencies like the Consumer Financial Protection Bureau while holding hundreds of thousands of dollars in private companies.

A federal court is considering a request for a temporary stay on litigation in a lawsuit challenging the legality of the Federal Reserve’s bank stress testing regime. The plaintiffs joined with the Fed in asking for a halt in proceedings, acknowledging the agency’s “good-faith effort” to address transparency concerns raised in the suit.

The minutes from the May 6-7 meeting of the Federal Open Market Committee offer key insights into the considerations behind its recommendation for the Federal Reserve to leave the federal funds rate unchanged at a target range of 4.25 to 4.5 percent and the direction interest rates could be headed in the near future.

Moody’s Ratings downgraded the credit ratings for Fannie Mae, Freddie Mac, the Federal Home Loan Bank System and the Farm Credit System by one notch in May, citing concerns over the nation’s growing debt and fiscal challenges. Despite the downgrade, Moody’s updated its outlooks for the government-sponsored entities from negative to stable, indicating no further downgrades are anticipated in the near future.

Brian Carter, speaker and owner of Optymedia, will be a featured speaker at the National Settlement Services Summit (NS3) June 16-18 in Pittsburgh. Carter will discuss artificial intelligence (AI) in housing and leadership, and NS3 attendees will leave the presentation with concrete steps to implement AI solutions that deliver measurable results.

Borrowers hoping to take advantage of lower mortgage rates driven by recent economic uncertainty may have missed their window this spring. However, demand for new home purchases remains relatively strong, according to the latest numbers from the Mortgage Bankers Association.

The mortgage industry welcomed the House’s passage of the VA Home Loan Program Reform Act (H.R. 1815), which would establish a permanent partial claim option to help distressed veteran homeowners.