CFPB Director Rohit Chopra praised the mortgage borrowing standards implemented by the CFPB following the 2008 financial crisis. He claimed that recent court cases raising questions about the legitimacy of the CFPB's regulations were "destabilizing" to the housing system.
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Senate Banking Committee Ranking Member Pat J. Toomey (R-PA) urged regulators to adopt policies that facilitate innovation and consumer choice through the development of a healthy competitive market.
In a report on the CFPB's 2018 reorganization of its fair lending activities, GAO found that the CFPB did not sufficiently incorporate key practices for monitoring the implementation and effects of the organizational changes.
The Federal Reserve Board extended the expiration date for pandemic-related lending facilities through March 31, 2021.
The U.S. House Committee on Financial Services considered testimony from CFPB Director Kathleen L. Kraninger on the Bureau's Spring 2020 Semi-Annual Report.