Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.
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.
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.
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.
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.
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.
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.
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.
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.
