News Topic: CFPB

Piecemeal settlement through mandatory arbitration masks widespread misconduct like Wells Fargo’s fake-accounts scandal. Class actions bring such systemic abuses to light, and should always be an option for consumer redress. ... Read full article

Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, and more. ... Read full article

House and Senate lawmakers formally filed resolutions on Thursday to repeal the Consumer Financial Protection Bureau's arbitration rule, but there were early signs that enacting them may prove challenging. ... Read full article

Sen. Elizabeth Warren, D-Mass., sharply criticized the new acting head of the Office of the Comptroller of the Currency as part of a report Thursday detailing how industry executives and lobbyists have joined the Trump administration. ... Read full article

Acting Comptroller Keith Noreika says his agency is prepared to defend its authority to grant banking licenses to fintech firms; lawmakers hopeful they can block anti-arbitration rule before it takes effect. ... Read full article

Sen. Tom Cotton, R-Ark., plans on leading Republican efforts to overturn the Consumer Financial Protection Bureau’s rule governing arbitration agreements and said Wednesday that a few Democrats might help the effort. ... Read full article

The bank’s once-vaunted bond trading unit reports its second bad quarterly performance in a row; Cordray tells OCC it’s too late to stop rule prohibiting mandatory arbitration. ... Read full article

Most U.S. voters, including those who identify as Republicans, support the Dodd-Frank financial reform law and the Consumer Financial Protection Bureau, according to a poll conducted in late June. ... Read full article

The OCC and CFPB are engaging in a high-stakes battle over the latter agency's effort to rein in mandatory arbitration clauses, in a rare public spat between federal regulators. ... Read full article

Former Visa CEO replaces Gerald Hassell; Acting Comptroller Noreika asks Cordray to delay rule that makes it easier for consumers to sue banks. ... Read full article

A district court judge has ruled in favor of a Louisville, Ky., law firm that was sued by the Consumer Financial Protection Bureau in 2013 for allegedly paying illegal kickbacks in exchange for referrals. ... Read full article

Acting Comptroller of the Currency Keith Noreika has asked the CFPB to delay publishing its final arbitration rule, citing concerns about how it will impact the safety and soundness of banks. ... Read full article

House Financial Services Committee Chairman Jeb Hensarling continued the drumbeat of Republican attacks on Consumer Financial Protection Bureau Director Richard Cordray. ... Read full article

The industry and GOP lawmakers face short time frames and other challenges in trying to repeal the Consumer Financial Protection Bureau's arbitration rule. ... Read full article

Trump’s nominee for head of bank supervision at the Fed may tackle Volcker Rule revision; rising home prices and improved job market give borrowers more options as lines of credit reset. ... Read full article

Agency rule would make it easier to sue banks, but Congressional Republicans likely to fight it; Trump nominates Randal Quarles as Fed’s vice chair for supervision. ... Read full article

With the ink barely dry on the Consumer Financial Protection Bureau's final arbitration rule, defenders and critics of the rule were already girding for a congressional fight over its ultimate fate. ... Read full article

The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is ... Read full article