RSSCFPB relaunches (smaller) advisory boards
After dissolving its three advisory boards earlier this year, the Consumer Financial Protection Bureau has formally reconvened them with new and fewer members who will serve shorter terms.
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Spotlight
News
CFPB files first enforcement lawsuit under Mulvaney
Though the bureau has continued its enforcement activities via settlements and consent orders in recent months, this action against Future Income Payments is the first time under Mulvaney’s leadership that a regulated entity has been sued.
Office of Innovation launches disclosure sandbox
A new division of the Consumer Financial Protection Bureau is expanding its efforts to promote safe tinkering for revamped disclosures.
CFPB issues first overall report under Mulvaney
The report is the first one issued with CFPB Interim Director Mick Mulvaney at the helm, and largely follows formats and standards laid out during Richard Cordray's tenure at the Consumer Financial Protection Bureau.
Federal court upholds CFPB investigative demand
A federal court in Pennsylvania recently denied a petition from a student loan servicer, Heartland Campus Solutions, for a stay of a civil investigative demand from the Consumer Financial Protection Bureau.
Top CFPB student loan official resigns
In his resignation letter, student loan ombudsman Seth Frotman alleged that current bureau leadership has “turned its back on young people and their financial futures.”
CFPB backs off of military lenders
The Consumer Financial Protection Bureau plans to alter the way it manages enforcement of financial products for military personnel, focusing on complaints received rather than preemptive exams.
CFPB settles with Hydra Group
The Consumer Financial Protection Bureau settled with the defendants in the Hydra Group payday lending lawsuit regarding the unlawful origination and servicing of short-term, small-dollar online loans to consumers nationwide.
Bureau continues fintech innovation push
The Consumer Financial Protection Bureau announced a collaboration with 11 financial regulators and related organizations to create the Global Financial Innovation Network.