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Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.
Homeowners that are still deferring payments on federally backed loans as of Feb. 28 will be permitted to request an additional three months of relief.
Sen. Richard Shelby. R-Ala., served two stints as head of the committee. He announced Monday that he will not run for re-election when his term expires.
Only 18% of businesses that received a Paycheck Protection Program or other loan from an online lender were satisfied with customer service, while 42% said they were dissatisfied. Banks, credit unions and CDFIs fared better in the Federal Reserve survey.
The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively.