The Consumer Financial Protection Bureau will reconsider its recently issued and highly controversial payday lending rule, it said in a statement issued today.
New director Mick Mulvaney has suspended the bureau’s collection of personal identifying information when taking consumer complaints, and Sen. Elizabeth Warren (D-Mass.) is not happy with the move.
Sen. Ron Johnson (R-Wis.) launched an inquiry into the appointment of Leandra English to her role as chief of staff at the Consumer Financial Protection Bureau.
Mick Mulvaney, Director of the Consumer Financial Protection Bureau, continues to face internal resistance to his recent appointment by President Trump.
Interim CFPB director Mick Mulvaney appointed six new high-ranking administrators to support him, each of whom are drawn from other positions within the Trump Administration.
A former employee of the Consumer Financial Protection Bureau has come forward with accusations of fraud against the agency.
Xerox Business Solution was fined for issues stemming from defective software that sent erroneous information to consumer reporting agencies, which affected more than 1 million customers.
Past statements from Mulvaney – including a characterization of the bureau as “a joke” – disqualify him, said a letter signed by New York Attorney General Eric T. Schneiderman and 16 other state attorneys general.
A bipartisan group of House legislators has introduced a Congressional Review Act resolution to bar passage of the final payday lending rule from the Consumer Financial Protection Bureau.
Earlier this month, the Consumer Financial Protection Bureau reached a settlement with Vantage Capital Group that handed VCG administration rights to more than 800,000 private student loans that had been mismanaged by a trust called National Collegiate Student Loan Trusts.