News Topic: CFPB

The N.J. firm, which made loans to Sept. 11 first responders and pro football players diagnosed with brain injuries, was accused of usury. But a judge threw out the case, ruling that the New York attorney general lacks jurisdiction. ... Read full article

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations. ... Read full article

Consumer advocates and academics recently removed from the Consumer Advisory Board said they were "disappointed" that the board will be reconstituted with fewer members. ... Read full article

The agency announced a new lineup for the Consumer Advisory Board after having fired its previous members and those of two other panels. ... Read full article

Agency’s first supervisory report under Mulvaney finds little change; the nonbank lender surpasses Citigroup and Bank of America in home loans. ... Read full article

Sen. Elizabeth Warren and Rep. Elijah Cummings have called for an update on probes into the credit reporting giant a year after its massive data breach came to the light. ... Read full article

Concentration risk, threats to data privacy and the potential for discrimination are among the unintended consequences of letting fintechs and tech giants dabble in financial services without bank-like regulation, an expert says. ... Read full article

Following news of the breach, congressional hearings for the company’s ex-CEO and other blowback were accompanied by legislative calls to action. But a year later, did policymakers do anything? ... Read full article

Kathy Kraninger has been tight-lipped about her plans for the consumer bureau, but some point to signs that she could curb the agency's power by reducing staff and other costs. ... Read full article

The Consumer Financial Protection Bureau issued an interpretive rule Friday to clarify changes made to the Home Mortgage Disclosure Act that were mandated by President Trump's regulatory relief law. ... Read full article

How the 'Best Banks to Work For' get employees to love their jobs; Comerica works to address fraud in prepaid benefits program; how to tell if you're banking a pot business; and more from this week's most-read stories. ... Read full article

Randal Quarles was considered for Financial Stability Board chair spot; the outgoing student loan ombudsman says the agency puts lenders before consumers. ... Read full article

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.” ... Read full article

Citigroup was so impressed with a test drive of AI software it invested in its maker; the FBI's warning of a cyberattack targeting ATMs came to pass — expect more to come; debating whether state AGs can serve as de facto CFPBs; and more from this ... Read full article

The CFPB nominee wins approval from the Senate Banking Committee by a 13-12 vote; the country is looking to borrow $11 billion after Aramco IPO is delayed. ... Read full article

The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions. ... Read full article

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit. ... Read full article

Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau. ... Read full article