News Topic: Mick Mulvaney
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CFPB political appointee to be named agency's No. 2: Sources
Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau. ... Read full article
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.” ... Read full article
Led by Trump appointee, CFPB is back in the enforcement business
There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era. ... Read full article
Enforcement actions are still a tool in CFPB arsenal, Kraninger says
Public orders are an effective way to discourage violations of consumer protection law, the bureau's director said at a credit union conference. ... Read full article
CFPB names student loan servicing exec as ombudsman
Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints. ... Read full article
CFPB chief’s equal-opportunity calendar
In her first four and a half months, Kathy Kraninger met with lawmakers more than twice as often as her predecessor, but her schedule demonstrates willingness to meet with industry and policy stakeholders from various camps. ... Read full article
CFPB commission goes from idea to afterthought
The industry continues to push for an overhaul of the bureau’s leadership structure, but both parties seem uninterested. ... Read full article
CFPB’s Kraninger digs in over halt to military lending exams
Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act. ... Read full article
House passes bill to reverse CFPB policies under Trump administration
All Democrats supported the bill focused on the decisions of former acting CFPB Director Mick Mulvaney, while all Republicans opposed it. ... Read full article
CFPB's assistant enforcement chief resigns: Sources
Kristen Donoghue had been one of the agency's few remaining senior enforcement managers hired by former Director Richard Cordray. ... Read full article
Democrats grill CFPB official on payday rewrite
The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans. ... Read full article
CFPB official under fire for past writings on race resigns
Eric Blankenstein, the CFPB's policy director for supervision, enforcement and fair lending, has been criticized for using a racial slur in blog posts 15 years ago and claiming the majority of hate crimes were hoaxes. ... Read full article
CFPB political appointee named agency's No. 2
Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger. ... Read full article
CFPB opens door to rewrite of 2009 overdraft rule
The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions. ... Read full article
As CFPB mulls privatizing database, consumer complaints mount
The Consumer Financial Protection Bureau received over a quarter-million complaints in 2018, according to analysis by an advocacy group that urged the agency to maintain public access to its database. ... Read full article
CFPB to give more information to firms under investigation
Under a new policy, a company subject to a civil investigative demand will learn from the agency about what conduct the probe is targeting and what legal provisions the firm may have violated. ... Read full article
Kraninger outlines her vision for a revamped CFPB
In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education. ... Read full article
Regulators instructed to clear new rules with White House
The Trump administration directed independent agencies to submit their pending regulations for review by the Office of Information and Regulatory Affairs, a novel procedural hurdle that could slow down policy changes. ... Read full article
American Banker scores 11 major journalism awards
American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards. ... Read full article
