The central bank is exploring how to improve the consistency and transparency of safety and soundness scores used to grade banks and their holding companies, the agency’s vice chairman of supervision said.
A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act.
The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.
The agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age.
In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that do so.
