Enforcement actions

CFPB declares most agency rules still valid after high court decision


The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.


Banks should offer their own form of reparations


As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining.


Wells Fargo struggling to stay under asset cap amid pandemic, CEO says


Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.


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


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.


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


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


Democrats beat up on Wells Fargo CEO. GOP says it's time to move on.


House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced.


Next round of Wells Fargo hearings will shine spotlight on board's role


The House Financial Services Committee will question two of Wells’ board members, raising public scrutiny to a new level for bank directors.


CFPB proposes legislation to pay whistleblowers who tip off agency


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.


Fifth Third latest bank in CFPB crosshairs over phony accounts


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.


Supreme Court justices question wisdom of CFPB overhaul


The court’s liberal bloc and Chief Justice John Roberts, who holds a crucial swing vote, appeared reluctant to remove a contentious provision that limits a president’s ability to fire a sitting director of the bureau.