All CFPB articles – Page 7
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Blog
White House nominates successor for Mulvaney at CFPB
With Acting Director Mick Mulvaney’s tenure at the Consumer Financial Protection Bureau scheduled to end, by statute, on June 22, the White House has nominated Kathy Kraninger, his subordinate at the Office of Management and Budget, to take over.
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Blog
CFPB’s Mulvaney disbands Consumer Advisory Board
Mick Mulvaney, acting director of the CFPB, has disbanded his agency’s Consumer Advisory Board, dismissing 25 outside experts who were intended to help shape agency policy. It is the latest in a series of moves to reshape the Bureau into Mulvaney’s more business-friendly vision.
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Article
Along with name change, plans afoot to rethink CFPB enforcement
Throughout the month, a flurry of commenters has weighed in on efforts to potentially reshape the Consumer Financial Protection Bureau’s enforcement policies.
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Blog
SEC tries to placate mandatory arbitration fears
In response to House Democrats, SEC Chairman Jay Clayton is once again assuring the public there are no immediate plans to allow companies to demand dispute arbitration in IPO filings and corporate governance documents.
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Blog
Senate Democrats issue report on Equifax breach, chide CFPB's inaction
The Equifax data breach was even worse than initially feared, say Senate Democrats who accuse the CFPB for its lack of a “robust investigation” and plans to make its complaint database private.
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Blog
Warren hits CFPB director with 100-question quizzing
The latest move in the ongoing chess match between Sen. Elizabeth Warren (D-Mass.) and CFPB Acting Director Mick Mulvaney is the legislator’s demand for answers to more than 100 questions relating to the Bureau’s policies and actions.
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Blog
GUIDE Act targets CFPB’s rulemaking transparency
The recently filed Give Useful Information to Define Effective Compliance Act (or, for short, GUIDE Act), seeks to “bring predictability and transparency” to CFPB’s process of promulgating rules and guidance.
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Article
What Wells Fargo’s woes could mean for near future of bank regulation
A $1 billion fine may set the stage for even harsher enforcement actions against Wells Fargo and their big bank brethren, despite the deregulatory zeal taking hold at the Federal Reserve and other agencies.
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Blog
Wells Fargo fined $1B by OCC, CFPB
The Office of the Comptroller of the Currency, in a coordinated action with the Consumer Financial Protection Bureau, assessed a total civil money penalty of $1 billion against Wells Fargo Bank for engaging in abusive lending practices concerning its auto loans.
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Blog
Battle over CFPB's auto loan guidance could expand scope of CRA
A Senate vote on Tuesday invalidated CFPB guidance on automobile lending practices and could give legislators greater ability to deploy the Congressional Review Act as a tool for regulatory rollbacks.
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Blog
CFPB seeks public input on complaint collection
Amid its current overhaul under new leadership, the Consumer Financial Protection Bureau is seeking feedback on its process for logging consumer complaints.
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Blog
Acting CFPB director wants a radical overhaul of the agency
In the pages of the CFPB’s semi-annual report, Acting Director Mick Mulvaney included four recommendations for legislative changes to the agency. “The Bureau is far too powerful, with precious little oversight of its activities,” he said.
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Blog
CFPB launches public review of complaint database
Continuing a top-down reassessment of operations and policies, the CFPB has settled on its next review target: its controversial complaint database.
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Blog
CFPB is latest agency questioned over fake comments
Energy and Commerce Ranking Member Frank Pallone, Jr. (D-N.J.) is requesting an investigation into the "widespread submission of fake public comments" during the CFPB's consideration of its payday lending rule.
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Blog
CFPB reviews supervisory processes, reveals multi-year strategic plan
The Consumer Financial Protection Bureau is continuing a public consultation process that coincides with a five-year strategic plan for its operations, goals, and priorities.
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Blog
As CFPB retreats, FTC urged to charge ahead with Equifax investigation
As the CFPB’s efforts fade away, Sen. Amy Klobuchar (D-Minn.) is urging the Federal Trade Commission to ramp up its own investigation into last year’s Equifax data breach.
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Blog
Coalition urges Congress to halt CFPB rule on ‘payday’ loans
Free market groups, led by the Competitive Enterprise Institute, petitioned Congress to stop the Consumer Financial Protection Bureau’s restrictions on “payday” loans.
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Blog
CFPB shuffles unit reporting lines, reviews administrative proceedings
The work of a CFPB unit dedicated to discrimination cases, the Office of Fair Lending and Equal Opportunity, has been undermined by a recently announced organizational change, critics say. Also under new scrutiny at the agency: its use of administrative proceedings.
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Blog
Snapping losing streak, CFPB gets constitutional nod from appeals court
Amid Republican led efforts to weaken its purview, the Consumer Financial Protection Bureau has prevailed against a legal challenge to the constitutionality.
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Blog
CFPB finalizes changes to prepaid accounts rule
The Consumer Financial Protection Bureau has announced finalized to its prepaid rule. Included in the changes is a year-long extension to the effective date.