CFPB

Hackers are stealing enthusiasts’ phone numbers, then changing the passwords to clean out their financial accounts; bank makes pledge to human rights groups.

Sanger is out at Wells Fargo and so it is a crisis that gives us our first female board chair at a major U.S. bank. Women lead two major tech initiatives at JPMorgan Chase, which is also adding a fourth woman to its executive committee.

Sen. Elizabeth Warren, D-Mass., sent a letter to 16 big banks asking them if they support a GOP effort to overturn the CFPB arbitration rule.

If CFPB Director Richard Cordray leaves ahead of his July 2018 term expiration, President Trump would be limited in who he could pick as an acting director and may face challenges in rolling back the rule banning mandatory arbitration clauses.

The financial services industry is at risk of being caught flat-footed if a legislative measure to rescind the Consumer Financial Protection Bureau’s rule regulating arbitration agreements fails to pass.