News Topic: CFPB

Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment. ... Read full article

The agency’s rule restricting short-term loans ignores state discretion and harms needy borrowers, argues Louisiana’s attorney general. ... Read full article

Hedge fund apparently likes the bank’s corporate services business; Michael Piwowar is credited with “jump-starting” the agency’s deregulatory push. ... Read full article

The public face of the Trump administration's revamp of the Consumer Financial Protection Bureau is by no means working alone. ... Read full article

Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices. ... Read full article

Trump-appointed regulators are making headway on easing regulations. But there's one critical voice missing. ... Read full article

China's mobile payment lessons for U.S. bankers; Steven Mnuchin's wishful thinking on GSE reform; unpacking Mick Mulvaney's CFPB relocation musings; and more from this week's most-read stories. ... Read full article

Readers applaud acting Consumer Financial Protection Bureau Director Mick Mulvaney’s cost-cutting ideas, slam recent calls for postal banking, opine on banks limiting their business with firearms dealers and more. ... Read full article

The New Jersey mortgage lender and servicer won a huge victory in January when an appeals court threw out its fine levied by the consumer agency, but the court ruled against the claim that the agency's structure is unconstitutional. ... Read full article

The fintech wants to facilitate loans for elective surgeries, auto repairs and jewelry purchases, but regulatory uncertainty — at the state and federal levels — casts a cloud over its business model. ... Read full article

The firm will pay $110 million to settle charges it didn’t control traders; hedge fund executive says he was wrongfully accused of sexual misconduct. ... Read full article

Acting CFPB Director Mick Mulvaney’s staff is selling the move of agency employees as a cost-cutting measure. Don’t buy it. ... Read full article

The acting Consumer Financial Protection Bureau director should be investigated for potential Hatch Act violations following his controversial remarks at a banking industry conference, Senate Democrats said Tuesday. ... Read full article

Such options are being proposed by his top aides as Mulvaney seeks to cut spending at the agency by tens of millions of dollars, according to an internal cost-savings analysis obtained by Bloomberg News. Another budget-trimming idea: making employees share ... Read full article

Acting CFPB Director Mick Mulvaney told a group of bankers last week that he intends to end public access to complaints, but Sen. Elizabeth Warren and two other Democrats argue that would be a mistake. ... Read full article

The agency’s 2013 guidance is frequently portrayed as either an overdue push to stamp out lending discrimination or a case study in regulatory overreach. In truth, its impact was minimal. ... Read full article

The group says Mulvaney, who also runs OMB, was not totally forthcoming with the Senate Budget Committee about the foreclosure of a property he owns in South Carolina. ... Read full article

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage seemingly at every turn, including several times just last week. ... Read full article