Top Democrats in the House and Senate sent a letter to Mick Mulvaney on Wednesday questioning his decision to delay the implementation of the Consumer Financial Protection Bureau’s payday loan rule.
The decision by the appeals court means that a president can only fire the head of the Consumer Financial Protection Bureau for cause. But the ruling also scrapped the CFPB's massive fine against a nonbank mortgage lender.
The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.
Mick Mulvaney, acting director of the CFPB, sent strong signals in a memo to all bureau staff last week that he wants to crack down on debt-collection firms.
Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments.
Elizabeth Warren takes acting CFPB director Mick Mulvaney to task over his decision on data collecting; B of A gets heat from harrassment reveal and free checking halt; and more.
Readers weigh in on how Mick Mulvaney is remaking the Consumer Financial Protection Bureau, chime in on JPMorgan’s plans to roll out more branches, react to fee income trends and more.
