Enforcement actions

CFPB declares most agency rules still valid after high court decision

07/07/20

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.

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Banks should offer their own form of reparations

06/16/20

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.

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

05/29/20

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.

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

03/12/20

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.

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

03/10/20

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

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

03/10/20

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.

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

03/08/20

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

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CFPB proposes legislation to pay whistleblowers who tip off agency

03/06/20

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.

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Fifth Third latest bank in CFPB crosshairs over phony accounts

03/04/20

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.

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Supreme Court justices question wisdom of CFPB overhaul

03/03/20

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.

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