RSSCFPB settles with Illinois bank
State Farm Bank, FSB, Bloomington, Ill., has settled with the Consumer Financial Protection Bureau for consumer financial protection and credit reporting violations.
Kraninger confirmed by Senate
Kathleen Kraninger, Trump’s appointee to lead the Consumer Financial Protection Bureau, was confirmed in a 50-49 party-line Senate vote. The Office of Management and Budget staffer replaces her OMB boss Mick Mulvaney as head of the CFPB.
Name change would cost millions
The name change proposed at the Consumer Financial Protection Bureau could cost regulated entities $300 million if the agency goes through with its switch to the Bureau of Consumer Financial Protection moniker.
Santander settles with CFPB over lax disclosures
Dallas-based Santander Consumer USA has settled with the Consumer Financial Protection Bureau over allegations it used deceptive acts or practices in marketing auto loan add-ons and extensions.
Democrats take charge of House finance committee
California Democrat Rep. Maxine Waters, who is likely to become head of the House Financial Services Committee, has long been a staunch ally of the Consumer Financial Protection Bureau.
OIG offers criticism, praise of bureau information security
The Consumer Financial Protection Bureau could be better at handling its enterprise risk management, although it is adequate in other information security areas, according to an OIG report.
Reduced CashCall fine would send the wrong message, CFPB says
A reduced fine against online lender CashCall for violating state interest rate caps would send the wrong message, according to a brief filed in a federal appeals court by the Consumer Financial Protection Bureau.
CFPB supervision doesn’t decrease mortgage lending, Fed researchers say
Oversight from the Consumer Financial Protection Bureau hasn’t significantly decreased mortgages made by the nation’s largest banks. It has affected the kinds of mortgages those banks offer, however, say researchers at the New York Fed.
Democrats demand Mulvaney explain controversial employee’s hiring
A group of Senate Democrats has demanded an explanation from the acting director of the Consumer Financial Protection Bureau about the vetting process for a now-controversial employee.
Bureau wants feedback on data use
The Consumer Financial Protection Bureau is seeking industry and consumer input on its sources of data and how data is used.
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