The agency's settlement with Robert Moseley, Sr., and Robert Moseley, Jr., was enforced by the U.S. District Court for the Western District of Missouri.
The CFPB made changes to a rule that allows financial firms to be exempt from sending annual privacy notices to customers if they meet certain conditions.
The bureau announced the creation of the Global Financial Innovation Network for regulators to discuss joint policy work and offer a cross-border product testing process.
The bureau wants to encourage more innovation without the threat of enforcement, but observers say regulators also need a testing ground to prove they can regulate fintech.
A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
The nomination of Kathy Kraninger as CFPB director has sparked fights in Congress. Meanwhile, the agency has taken several notable enforcement actions. American Banker reporter Kate Berry explains what these developments mean for the CFPB’s future.
