Even though things may change regarding who is enforcing the rules, Idziak said brokers should expect them to be enforced.
“Until you see that a statute or a rule has been changed, they are still in effect,” he said. “And even though the CFPB might have de-prioritized supervision enforcement in some of these areas, there are still the states out there, there are still private rights of action under a lot of these consumer statutes.
“The rules of the game haven’t necessarily changed. There’s a lot of noise there, and you have to pay attention to a lot more information sources today than you maybe did in the past to see how things are developing.”
The Consumer Financial Protection Bureau (CFPB) is preparing to rescind 67 policy and regulatory guidance documents, including several related to mortgage lending, credit reporting, and consumer complaint processes.https://t.co/O9LdG6QRHi
— Mortgage Professional America Magazine (@MPAMagazineUS) May 15, 2025
Because Republicans made these changes, Idziak expects that if Democrats take over Congress and the White House again, brokers can expect this era to receive extra scrutiny.
“Historically, the look-back period on a lot of the examinations and enforcement actions has been anywhere from five to seven years,” he said. “I would say, operate with the idea in the back of your mind that in 2028, you could have a Democratic administration and a CFPB that decides to take a very close look at the behavior of business practices or lenders during this time period.”