The Consumer Financial Protection Bureau filed a lawsuit against Vanderbilt Mortgage & Finance, Inc., a subsidiary of Berkshire-Hathaway, accusing the nonbank company of predatory lending practices that set families up for financial failure when purchasing manufactured homes.

The U.S. Treasury Department’s Financial Crimes Enforcement Network announced that reporting companies are not currently required to file beneficial ownership information in light of recent legal developments.

The window to file demographic information required under the Home Mortgage Disclosure Act has been opened and the current state of emergency in California caused banking regulators to address impacted institutions. Find details about these developments and more in this regulatory roundup.

The Consumer Financial Protection Bureau issued a final rule to prohibit medical debt from being included on credit reports used by lenders to make credit determinations. The bureau estimated the new rule will clear approximately $49 million in medical bills from about 15 million Americans’ credit reports.

The Consumer Financial Protection Bureau filed suit against Experian, accusing the nationwide consumer reporting agency of failing to properly investigate consumer disputes as required under the Fair Credit Reporting Act.

The Federal Housing Finance Agency and the U.S. Treasury Department took a significant step toward creating a path to ending the conservatorships of Fannie Mae and Freddie Mae with new amendments to the Preferred Stock Purchase Agreements.

Federal Reserve Vice Chair for Supervision Michael Barr announced his intent to step down from his vice chair role on Feb. 28, or once a successor is confirmed. The Fed indicated it does not intend to take up any major rulemakings until his successor is confirmed.

The new year means it is time for various industry trade groups to both look back at their activities and accomplishments from 2024 and set a new list of priorities for 2025. Multiple organizations representing banks and credit unions also announced new executive hires in the opening week of the year. Learn about some of these noteworthy moves and policy announcements in this roundup.

One major hurdle to homeownership for first-time buyers is affordability. This is a topic with which Miki Adams, president at CBC Mortgage Agency, is well-acquainted. Adams spoke with Dodd Frank Update on the affordability of homeownership and how down payment assistance programs can help.