The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market.
CFPB Director Richard Cordray took issue with a House Republican report that said he lied about his agency's role in investigating the Wells Fargo phony-accounts scandal.
The Consumer Financial Protection Bureau proposed further changes Thursday to its final rule on prepaid cards and is seeking public comment on whether to delay implementing it a second time.
The Treasury plan includes a slew of items that don’t require Congress to act, and appear feasible in the short term. Here's a guide to what changes could be made.
Ahead of the House vote Thursday on the Financial Choice Act, the two parties were assailing each other as proxies for Wall Street and painting themselves as defenders of community banking and the consumer.
The agency recently sent a letter to nine banks urging them to stop offering deferred interest cards, arguing that consumers are often unaware of the risks involved.
Senators on both sides of the aisle paid lip service Thursday to giving relief to community banks and credit unions, but didn't appear closer to specifics of what would be in a bill.
