Banking and Finance Law Daily Wrap Up, CONSUMER FINANCIAL PROTECTION BUREAU—Financial services groups press CFPB for targeted mortgage regulatory relief, (May 20, 2026)

By Charles A. Menke, J.D.

In a letter to the Bureau’s acting director, the organizations identified several areas of targeted regulatory reforms to promote access to mortgage credit.

A group of financial services trade organizations have written to Consumer Financial Protection Bureau Acting Director Russell Vought urging that the Bureau “prioritize targeted regulatory reforms to implement President Trump’s March 13, 2026, Executive Order, ‘Promoting Access to Mortgage Credit.’” Organizations joining in the letter included the American Bankers Association, America’s Credit Unions, Consumer Bankers Association, Housing Policy Council, and Mortgage Bankers Association.

According to the organizations, “[t]he Order directs the Bureau to modernize the Home Mortgage Disclosure Act (HMDA) reporting requirements and to consider amendments to reform ‘origination and ability-to-repay (ATR)/Qualified Mortgage (QM)’ requirements to reduce unnecessary origination costs and expand access to affordable, sustainable mortgage credit.” The groups expressed support for the Bureau proceeding with proposed Regulation X servicing amendments, and further recommended the following actions:

• modernizing loan originator compensation provisions in Regulation Z;

• reforming tolerances, cure provisions, and timing requirements under the Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosure Rule; and

• updating HMDA reporting thresholds in Regulation C.

Companies: American Bankers Association; America’s Credit Unions; Consumer Bankers Association; Housing Policy Council; Mortgage Bankers Association

RegulatoryActivity: CFPB ConsumerCredit Loans Mortgages PrudentialRegulation RESPA TruthInLending