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The request for information specifically calls for suggestions on “burden reduction” in its enforcement of federal consumer laws, while still fulfilling the bureau’s statutory function and commitment to transparency.
Kirsten Sutton Mork was serving as staff director of the House Financial Services Committee under Chairman Jeb Hensarling (R-Texas) prior to being appointed by CFPB acting director Mick Mulvaney.
A three-judge panel had previously sided with PHH Mortgage in its suit against the Consumer Financial Protection Bureau, declaring its structure unconstitutional and vacating its $103 million fine.
The changes adjust requirements for resolving errors on unregistered accounts and provide greater flexibility for credit cards linked to digital wallets as well as delaying implementation until April 2019.
The bureau was seeking penalties and restitution from CashCall, Inc., for violating the Consumer Financial Protection Act and the Dodd-Frank Act’s prohibition on “unfair, deceptive, and abusive acts and practices.”
Mick Mulvaney
The Consumer Financial Protection Bureau will reconsider its recently issued and highly controversial payday lending rule, it said in a statement issued today.
Sen. Elizabeth Warren (D-Mass.)
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.)
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.