The CFPB should retain a key provision of its pandemic-era servicing rules that allows servicers to offer streamlined loan modifications to borrowers based on incomplete applications for loss mitigation, ABA said.
Illinois Gov. JB Pritzker signed into law a bill that extends by a year the effective date of a first-of-its-kind state law restricting interchange fees.
ABA joined two associations in reiterating their concerns about the CFPB’s nonbank registry, which the current bureau leadership has proposed to eliminate.
Reflecting significant pushback from both ABA and U.S. banking agencies, the Basel Committee last week issued a framework for voluntary disclosure of climate-related financial risks for large international banks.
ABA joined three associations in voicing support for a CFPB proposal to rescind a set of changes to the bureau’s rules that, among other things, gave its director authority to resolve adjudication hearings overseen by the agency.
With many economists expecting inflation to spike following the implementation of reciprocal tariffs, the headline Consumer Price Index rose 2.4% year-over-year in May — right in line with consensus expectations.
