CFPB

Coronavirus, U.S. Bank's opportunism, CFPB sues Fifth Third: Top stories of the week

03/13/20

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

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CFPB official will be recused from agency's suit against Fifth Third

03/12/20

Acting Deputy Director Leonard Chanin formerly was a deputy general counsel at the Cincinnati bank that is now in the bureau's crosshairs for allegedly opening unauthorized accounts.

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CFPB chief takes heat from Senate Dems for regulators' response to virus

03/10/20

Kathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis.

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CFPB sues Fifth Third for allegedly opening phony accounts

03/09/20

The Consumer Financial Protection Bureau says the Cincinnati bank engaged in aggressive sales practices and open bank and credit card accounts without consumers' authorization in order to meet sales targets.

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Regulators pledge assistance to banks affected by coronavirus

03/09/20

State and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.

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Democrats urge regulators to offer lenders more coronavirus guidance

03/09/20

Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.

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When’s the last time a lawmaker needed a small-dollar loan?

03/09/20

Maybe Congress shouldn’t be so quick to change laws without real-world input.

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CFPB proposes legislation to pay whistleblowers who tip off agency

03/06/20

The agency's effort to engage with lawmakers on a whistleblower award program is one of three initiatives the bureau announced to advance its strategy of preventing consumer harm.

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Fifth Third latest bank in CFPB crosshairs over phony accounts

03/04/20

The bank’s disclosure of an impending enforcement action shows that the CFPB continues to crack down on aggressive practices that got Wells Fargo in hot water.

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Former CFPB official to return to bureau as acting deputy chief

03/04/20

Leonard Chanin, a senior official at the Federal Deposit Insurance Corp., has been tapped to serve on a part-time basis as the No. 2 official at the Consumer Financial Protection Bureau, according to a news report.

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