The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem."
With Congress set to approve a regulatory relief bill and vote on an FDIC chairman, banks will soon see the deregulation they’ve long been anticipating.
It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it.
A pair of nominees to the Federal Reserve Board vowed Tuesday to protect the independence of the agency if confirmed, but avoided taking hard stances on pending regulatory issues.
The former Citigroup CEO is investing $100 million in Fair Square Financial, a midmarket card issuer; the exit leaves one executive atop the bank’s securities division.
A recent Washington Post investigation revealed that J. Mark McWatters runs the National Credit Union Administration from his home in Dallas, raising questions about his being tapped to head the consumer agency.
The union representing employees at the CFPB is already fighting acting Director Mick Mulvaney's efforts to restructure the agency, and readying for a potentially larger conflict as rumors of layoffs swirl.
