News Topic: CFPB

A lawsuit by CFPB Deputy Director Leandra English against the Trump administration is expected to challenge Mulvaney's appointment on two counts: that the president would directly control an independent agency and that it violates the succession plans ... Read full article

There is a possibility that there could soon be two individuals declaring themselves the rightful leader of the Consumer Financial Protection Bureau. ... Read full article

CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director. ... Read full article

The outcome of a case testing the president's power to fire a CFPB director will come too late to impact Richard Cordray, but may affect President Trump's interim and final picks to lead the agency. ... Read full article

The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures. ... Read full article

A week before he is due to resign, CFPB Director Richard Cordray sent a letter to 29 CEOs at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods. ... Read full article

Legislation and regulatory policy that takes a heavy-handed view of overdraft protection could remove a safe and convenient option for consumers managing their finances. ... Read full article

Guidance focuses on five key traits, including overseeing risk profiles; a former Congressional aide says agency must be accountable. ... Read full article

When CFPB Director Cordray resigns in two weeks, will the agency grind to a halt? Kate Berry reports on the embattled agency. ... Read full article

The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies. ... Read full article

Some fintechs argue that banks are selectively working with only certain third parties in sharing information and violating the spirit of the CFPB’s data-sharing principles. ... Read full article

Mick Mulvaney, President Trump's likely interim head of the CFPB, has taken tough stances on the CFPB, its payday lending rule, housing finance reform and other issues pending before the agency. ... Read full article

Acting Comptroller of the Currency Keith Noreika has been the ultimate disruptor, bucking the normally low-key profile of interim regulators. ... Read full article

Mnuchin’s former business associate is likely to be sworn in next week; Mulvaney, as a congressman, called the CFPB a “joke” and co-sponsored a bill to kill it. ... Read full article

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered ... Read full article

Mick Mulvaney, President Trump’s Office of Management and Budget director, is being considered for interim director of the consumer watchdog after Richard Cordray steps down and until a permanent pick is confirmed. ... Read full article

CFPB director’s departure gives President Trump the chance to revamp the agency; the bank regulator is reverting to its industry-friendly ways. ... Read full article

The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies. ... Read full article