News Topic: CFPB

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment. ... Read full article

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors. ... Read full article

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline. ... Read full article

Under a new policy, a company subject to a civil investigative demand will learn from the agency about what conduct the probe is targeting and what legal provisions the firm may have violated. ... Read full article

Whether JPMorgan tipped its hand on a succession plan; U.S. Bank hires its first chief digital officer; all eyes on CFPB as it modernizes its debt collection rules; and more from this week’s most-read stories. ... Read full article

In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education. ... Read full article

The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports. ... Read full article

The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms. ... Read full article

A key question is whether the agency will restrict the ability of firms to track down delinquent borrowers with emails and text messages, which weren't in use when current regulations were adopted. ... Read full article

The San Francisco bank is under pressure from investors to get out from under a Fed-imposed asset cap and to hire a new permanent CEO. But executives said Friday that thoroughness is more important than speed. ... Read full article

'There is no division in our industry': BofA's Moynihan says; why CFPB's payday revamp is an even bigger deal than you think; Morgan Stanley's new data strategy for higher quality AI; and more from this week's most-read ... Read full article

The lawmakers are questioning the agency about its oversight of student loan servicers involved in a federal loan forgiveness program. ... Read full article

To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform. ... Read full article

American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards. ... Read full article

The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well. ... Read full article

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents. ... Read full article

The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data. ... Read full article

The Democrats are asking the OCC and the CFPB to use their authority to remove Tim Sloan, who became CEO in 2016. ... Read full article