News Topic: CFPB

Regulators reach a $183.5 million deal Thursday to get debt relief to 41,000 students of bankrupt Corinthian Colleges. ... Read full article

Sanger is out at Wells Fargo and so it is a crisis that gives us our first female board chair at a major U.S. bank. Women lead two major tech initiatives at JPMorgan Chase, which is also adding a fourth woman to its executive committee. ... Read full article

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules. ... Read full article

Sen. Elizabeth Warren, D-Mass., sent a letter to 16 big banks asking them if they support a GOP effort to overturn the CFPB arbitration rule. ... Read full article

Wells Fargo's regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter. ... Read full article

If CFPB Director Richard Cordray leaves ahead of his July 2018 term expiration, President Trump would be limited in who he could pick as an acting director and may face challenges in rolling back the rule banning mandatory arbitration clauses. ... Read full article

Bank warns investors of bigger fallout from scandals; Senate Republicans may not have votes to overturn rule ending mandatory arbitration. ... Read full article

Staff for House Financial Services Committee Chairman Jeb Hensarling said that CFPB Director Richard Cordray is continuing to ignore subpoenas on the agency's work on the arbitration rule. ... Read full article

The financial services industry is at risk of being caught flat-footed if a legislative measure to rescind the Consumer Financial Protection Bureau’s rule regulating arbitration agreements fails to pass. ... Read full article

The CFPB released four sample disclosure forms for opting in to overdraft programs that it said would make it easier for consumers to evaluate the costs and risks of such coverage. ... Read full article

The Consumer Financial Protection Bureau ordered JPMorgan Chase to pay a $4.6 million fine for failing to provide accurate information when denying checking account applicants. ... Read full article

With the environment in Washington favoring deregulation, banks are pushing regulators to let them back into the payday lending game. They should know better. ... Read full article

Democrats on the House and Senate banking committees are urging Republicans to hold hearings with Wells Fargo's top executives over its phony-accounts and force-placed insurance scandals. ... Read full article

Acting Comptroller Noreika says he will defer to Congress to determine whether the rule requiring mandatory arbitration should be killed; Bitcoin Cash to start trading but is causing confusion in the digital currency market. ... Read full article

Four Republican senators are seen as possible defectors on a vote to repeal the CFPB's arbitration rule, while another senator may be absent, which will make the GOP's job harder. ... Read full article

Acting Comptroller of the Currency Keith Noreika said Monday that he would not interfere with the Consumer Financial Protection Bureau's rule banning mandatory arbitration after missing a key deadline to appeal the regulation. ... Read full article

Republican efforts to repeal the Consumer Financial Protection Bureau's arbitration rule were dealt a significant blow Friday by another Wells Fargo scandal. ... Read full article

The Consumer Financial Protection Bureau is likely to finalize its small-dollar rule by September ahead of Director Richard Cordray's widely expected departure. ... Read full article