Enforcement actions

Senate Dems urge CFPB watchdog to investigate restitution practices


In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.


Supreme Court battle, presidential race loom over CFPB in 2020


The Consumer Financial Protection Bureau faces a busy policy agenda heading into the new year, as well as strong external forces that are beyond its control.


Waters will call Wells Fargo's board members to testify in 2020


House Financial Services Committee Chairwoman Maxine Waters said oversight of the bank will be a focus for the panel next year.


Warren, Brown call on GAO to investigate CFPB's fair lending oversight


The two Democrats sent a letter “raising grave concerns about whether the bureau is fulfilling its statutory obligations.”


Where have all the CFPB fair-lending cases gone?


Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, the agency has not filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years.


California fines title lender, says its pricing violated state law


The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.


OCC, FDIC propose CRA overhaul; PayPal sues CFPB over prepaid rule


The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.


U.S. Bank, JPMorgan freed from BSA enforcement actions


The regulatory action from the Federal Reserve was one of two U.S. Bank received for its dealings with a payday lender who was later convicted of fraud.


The Bancorp freed from Fed order tied to capital management


The supervisory letter had required the company to get Fed approval before issuing debt, paying dividends or making quarterly payments on its trust-preferred securities.


Early-bird special: CFPB to reward firms that quickly fix violations


The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.