News Topic: Payday lending

The public face of the Trump administration's revamp of the Consumer Financial Protection Bureau is by no means working alone. ... Read full article

New legislation calling on the USPS to begin offering banking services is a dangerous use of government resources. ... Read full article

Readers applaud acting Consumer Financial Protection Bureau Director Mick Mulvaney’s cost-cutting ideas, slam recent calls for postal banking, opine on banks limiting their business with firearms dealers and more. ... Read full article

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage seemingly at every turn, including several times just last week. ... Read full article

Sen. Elizabeth Warren, D-Mass. is asking CFPB’s top ethics official if the agency has taken steps to ensure Mulvaney is excluded from matters involving banks and other firms that contributed to his campaign when he was a congressman. ... Read full article

The details about political donations to over a dozen lawmakers raise fresh questions about the payday lending sector's influence in Washington. ... Read full article

Bank’s net income plunges, will focus on Europe growth; FTC says the company charged hidden fees. ... Read full article

If President Trump doesn't name a director before the midterm elections, he could lose his best shot at reshaping the bureau long term. ... Read full article

Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees. ... Read full article

Acting CFPB Director Mick Mulvaney took heat from Democrats on whether he planned to take the agency's consumer complaint portal private while responding to Republican fears that its data collection activities pose a data security risk. ... Read full article

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill. ... Read full article

A $1 billion penalty being bandied about; Deutsche’s problems may be too big to eradicate. ... Read full article

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence." ... Read full article

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures. ... Read full article

The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions. ... Read full article

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semi-annual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged. ... Read full article

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress. ... Read full article

A BankThink argues that Treasury's GSE cash infusions are just the return of stolen money; MUFG wants its Union Bank to be one of the nation's 10 largest; fintech promises a 30-minute mortgage; and more. ... Read full article