Welcome to the CFPB Journal, your online publication for information about the Consumer Financial Protection Bureau.

If you work in financial services, you need CFPB Journal. Our team of seasoned reporters and editors brings you original coverage of the Bureau you won’t find anywhere else. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve-housed Bureau has unprecedented authority, jurisdiction and power. Follow CFPB developments, learn how others are complying with CFPB rules, and monitor general public reaction to the Bureau by checking in often with the CFPB Journal.

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Spotlight

Trump nominates OMB’s Kraninger to lead CFPB

President Donald Trump nominated an Office of Management and Budget staffer to replace Mick Mulvaney as head of the Consumer Financial Protection Bureau on June 18. Kathy Kraninger, an associate director of the OMB under Mulvaney, received the presidential nod to permanently replace Mulvaney at the CFPB.Read more

News

Leandra English departs CFPB, drops legal case

The deputy director of the Consumer Financial Protection Bureau will step down early next week, a move prompted by Trump’s nomination of Kathy Kraninger to permanently head the bureau, she said in a statement. She also plans to drop her lawsuit seeking to be named acting director of the agency.Read more

Citibank to pay restitution but no fine

Citibank will be required to pay restitution totaling $335 million to 1.75 million consumers over violations of the Truth in Lending Act; significantly, however, Citibank will not be fined by the Consumer Financial Protection Bureau.Read more

Federal judge rules CFPB structure unconstitutional

U.S. District Judge Loretta Preska objected to the structure of the Consumer Financial Protection Bureau. Specifically, she ruled that the agency’s single director, who can only be removed by the president for-cause, was unconstitutional.Read more

CFPB drops lawsuit against PHH

The Consumer Financial Protection Bureau ended its long dispute with PHH by dropping its case against the mortgage lender, bringing a close to the regulatory saga.Read more