Government

The Consumer Financial Protection Bureau (CFPB)’s Consumer Complaint Database has generated much controversy since June when it began publishing narratives of complaints from consumers. So much so that CFPB Director Richard Cordray issued a rare public response to the criticisms in late November.

Speaking at the sixth interagency outreach meeting on The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) of 1996, Comptroller of the Currency Thomas J. Curry outlined specific legislative proposals that have been introduced to reduce regulatory burden on smaller banks.

Eight of the nine voting members on the Financial Stability Oversight Committee will testify Tuesday before the House Financial Services Committee, and over at The Hill, the argument is made that GSE reform has to run through FSOC. The Hill looks at the gauntlet ahead.

Now that the news has had a bit of time to marinate, some within the housing industry reacted by taking up alliances with lobbyist, while others went the opposite direction and questioned these higher-ups' motives.

Democrats have repeatedly vowed to fight any attempts by Republicans to roll back the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Now, one of them is taking it one step further.

The National Association of Federal Credit Unions, which represents federal credit unions, shared some of the pain points credit unions continue to deal with, while noting that consumer demand at credit unions is up year-over-year.

At the forefront of that charge is a group of high-level industry professionals that has moved back and forth between the public and private sectors since the housing crisis in 2008. Is a conflict of interest brewing?

As the cost of housing continues to rapidly rise, consumers can hardly keep up, especially as their income remains stagnant. However, despite the lowering consumer financial sentiment, economic conditions lift the housing market upward.

According to Black Knight Financial Services, Inc., latest Mortgage Monitor Report, high LTV purchase originations rose 20 percent in the third quarter of 2015, compared to the 13 percent increase in the purchase market overall.

The Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosures rule have been in effect since October 3, 2015, and despite the expected stumbles here and there, the rule has not caused any major catastrophes in the mortgage industry—just yet.