News Topic: Enforcement

Acting CFPB Director Mick Mulvaney dismissed concerns by Sen. Elizabeth Warren, D-Mass., about his leadership of the consumer agency while supporting a lighter regulatory touch for credit unions. ... Read full article

National Credit Union Administration Chairman J. Mark McWatters made an appeal to credit union executives to work with small community banks when it comes to advocating for shared goals. ... Read full article

Commenting on the consumer bureau’s enforcement practices as part of a CFPB review could help shape regulatory reforms, but it could also draw attention to a firm’s run-in with the agency. ... Read full article

Democratic lawmakers are objecting to acting CFPB Director Mick Mulvaney's decision to strip the fair-lending office of enforcement powers. ... Read full article

Sen. Elizabeth Warren, D-Mass., asked Wells Fargo's chief executive to address recent reports that the bank's efforts to compensate customers for unnecessary fees is falling short. ... Read full article

The acting director of the Consumer Financial Protection Bureau on Tuesday had his first taste of the tough congressional criticism endured by his predecessor on trips to Capitol Hill. ... Read full article

Continuing to pull back the reins on the aggressive approach taken under former Director Richard Cordray, the agency's new five-year plan values consumer choice over heavy-handed enforcement. ... Read full article

The U.S. banking arm of the Dutch lender Rabobank has forfeited nearly $370 million for anti-money laundering deficiencies that authorities say allowed untraceable money transfers on behalf of criminals. ... Read full article

The examination of its enforcement policies is part of a comprehensive review of all agency procedures that acting Consumer Financial Protection Director Mick Mulvaney launched last month. ... Read full article

The Federal Reserve’s order restricting Wells Fargo puts other bank boards on notice that they could be singled out for failure to perform, but also makes it easier for them to avoid that fate. ... Read full article

The heads of the Securities and Exchange and Commodity Futures Trading commissions said they are not ignoring the fast-growing cryptocurrency sector and they have some oversight powers. But they indicated that they might need more. ... Read full article

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau. ... Read full article

The Federal Reserve on Friday slapped Wells Fargo with one of the harshest orders it has ever handed down, but the message it sent went far beyond a single institution. ... Read full article

The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its cross-selling scandal, restricting the bank’s future growth and removing four members of its board of directors. ... Read full article

Consumer advocates see acting CFPB Director Mick Mulvaney's restructuring as an attempt to reduce oversight and penalties for firms that discriminate against borrowers. ... Read full article

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments. ... Read full article

Mick Mulvaney and Richard Cordray set themselves apart from the run-of-the-mill Beltway bashing of late when their war of words over the CFPB went positively bookish. ... Read full article

The Consumer Financial Protection Bureau published a request for information Wednesday seeking comment on the bureau's process for investigating companies that face possible enforcement actions. ... Read full article