Legal experts weigh in on the CFPB and the future of regulation
What will the CFPB look like under new director Jonathan McKernan? Legal experts weigh in on the federal and state regulatory environment.
Regulatory
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Trump names Jonathan McKernan director of gutted CFPB
Trump has nominated Jonathan McKernan, former board member of the FDIC and senior counsel of policy at FHFA, to be director of the CFPB.
The CFPB may be frozen, but RESPA hasn’t gone away
Regulatory experts weigh in on what Russell Vought’s decision to shut off CFPB funding means for the enforcement of RESPA and UDAAP
Vought shuts down most of CFPB’s functions, cuts off funding
Russell Vought, the new acting director of the CFPB, is shutting down most of its functions and has cut off its funding.
A timeline of what’s happening at the CFPB under Trump
President Trump’s shake-up of the CFPB continues. Here’s a timeline of everything that’s happened at the bureau since Trump’s inauguration.
Project 2025 architect Russell Vought takes over CFPB
Russell Vought, an architect of Project 2025 and the current head of OMB, is the new acting head of the CFPB.
Proprietary reverse mortgage business in Oregon could be in danger
A bill introduced in Oregon could halt proprietary reverse mortgage business if enacted, according to NRMLA.
New York bill would require reverse mortgage lenders to strengthen consumer disclosures
A New York state senator’s bill seeks to require lenders to offer more comprehensive reverse mortgage information to borrowers at least five days before closing.
Enforcement experts fear the wild west of a weaker CFPB
Scott Bessent, the new secretary of the Department of the Treasury under the Trump administration, made headlines twice on Monday — once for his appointment as acting director of the Consumer Financial Protecture Bureau (CFPB) and again for his order to CFPB staff to halt all bureau activities.
U.S. strikes deal with Canada to pause tariffs for one month
Canadian President Justin Trudeau announced Monday afternoon that the U.S. and Canada have agreed to pause for one month the 25% tariffs that President Donald Trump placed on Canadian goods. That came mere hours after Trump and Mexican President Claudia Sheinbaum agreed to pause paused 25% tariffs on Mexico.