When Rohit Chopra was confirmed by the U.S. Senate as director of the Consumer Financial Protection Bureau (CFPB) in October 2021, many in the title and mortgage industry expected a return to the aggressive stance akin to the bureau’s beginnings under Richard Cordray.
Considering the first eight months of the CFPB under Chopra, the pundits appear to have been correct.
“The bureau under Director Chopra certainly has been very activist both as to areas of scrutiny and the depth of that scrutiny,” FNF National Agency Operations Senior Vice President Chuck Cain told The Title Report.
That was to be expected, considering his prior track record at the CFPB and at the FTC, Cain said.
To read the rest of this story, please download our Real Estate Compliance Outlook special report.
In addition to reaction from the title industry, this year’s report examines the state and federal focus on data security, the CFPB’s desired role in bank regulation, demand for change in the appraisal industry and what RESPA experts believe are the CFPB’s next moves.