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.
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.
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.
While Acting Director Mick Mulvaney has received heavy criticism for the changes he has made at the Consumer Financial Protection Bureau, at least one change was started under his predecessor – the agency’s new seal.
After canceling multiple meetings with its consumer advisory board, the acting director of the Consumer Financial Protection bureau has dismissed all 25 CAB members, essentially dissolving the board.
The acting director of the Consumer Financial Protection Bureau has canceled multiple meetings with its consumer advisory board, causing statements of concern from some CAB members.
The Consumer Financial Protection Bureau’s online database has been inactive since December, and Acting Director Mick Mulvaney doesn't seem keen to reopen it.
Acting Director Mick Mulvaney's temporary term at the Consumer Financial Protection Bureau ends June 22, and President Donald Trump has yet to name his replacement.
President Donald Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155), which eases some Dodd-Frank Act requirements, into law on May 24.
On May 21, President Donald Trump signed a resolution which negates 2013 guidance on auto loans issued by the Consumer Financial Protection Bureau aimed at preventing discriminatory markups on indirect loans made by car dealers.