Latest developments from the CFPB (Consumer Financial Protection Bureau), regulator of consumer protection actions among financial institutions and other organizations.
The federal consumer financial protection agency drew fresh criticism Wednesday for a lack of transparency regarding large banks’ “excessive fees” charged to students in a statement from Rep. Maxine Waters, D-Calif., who is poised to […]
Three of the five federal financial institution regulatory agencies saw their “employee engagement scores” drop this year from 2017 levels, with the consumer financial protection agency seeing the biggest decline, more than 25 points, according […]
The former acting director of the consumer financial protection bureau, John (“Mick”) Mulvaney, commended Kathleen (“Kathy”) Kraninger’s confirmation to a five-year term as bureau director in a statement posted online and dated Tuesday. Kraninger was […]
The newly installed director of the federal consumer financial protection agency will launch a three-month “listening tour” and will work on finding the balance between career and political staff at the agency, she told reporters […]
A proposal to establish a “regulatory sandbox” encouraging banks to test new, innovative financial products as part of changes to the “no-action letter policy” has drawn sharp criticism from the Democrat poised to take over […]
The federal consumer financial protection agency officially has a new director, as Kathleen (“Kathy”) Kraninger was sworn in Monday evening; she was confirmed to serve a five-year term by the Senate Thursday. Vice President Mike […]
A proposed rule change to adjust funds-availability amounts for inflation every five years, announced in November, is in Monday’s Federal Register with a comment period that ends Feb. 8. Announced jointly by the Federal Reserve Board […]
Providing financial education directly to the public, and expanding local delivery of financial information, are two goals of the federal consumer financial protection agency that are outlined in its report on financial literacy, made public […]
The federal consumer protection bureau imposed no civil money penalties against the $17 billion-asset State Farm Bank in a consent order filed to resolve previous violations of the Fair Credit Reporting Act (FCRA, Regulation V), […]
A federal court has been asked to impose monetary penalties – $268,869 in redress to consumers plus a civil money penalty (CMP) of $260,000 – against a Nevada-based nonbank mortgage company that reportedly misled veterans […]
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