CFPB Journal staff report

Democrats release proposal to strengthen CFPB

House Democrats recently introduced a bill to strengthen the Consumer Financial Protection Bureau.

Trump proposes 50 percent cut in CFPB workforce

The Trump administration recently asked a federal appeals court to cut the current workforce of the Consumer Financial Protection Bureau 50 percent, according to a court filing. The request to reduce the bureau’s staffing to 556 employees from 1,174 was filed April 1 in the U.S. Court of Appeals for the District of Columbia Circuit. …

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CFPB introduces “Humility Pledge” for supervision exams

The Consumer Financial Protection Bureau recently instituted a “Humility in Supervision Pledge,” starting with the 2026 examination cycle.

CFPB reaches settlement with pawn shop company

The Consumer Financial Protection Bureau recently reached a $9 million settlement in its 2021 lawsuit against pawn shop company FirstCash, Inc.

CFPB terminates consent order against Navy Federal Credit Union

The Consumer Financial Protection Bureau recently terminated its consent order against Navy Federal Credit Union and waived any non-compliance allegations against the company.

CFPB to stop using civil penalty funds to finance education programs

The Consumer Financial Protection Bureau plans to stop using civil penalty funds to finance consumer education and financial literacy programs, according to a proposal published June 18.

Horowitz selected to lead CFPB IG office

Longtime attorney and government official Michael Horowitz was appointed to lead the Office of Inspector General for both the Consumer Financial Protection Bureau and Federal Reserve.

CFPB to scrap Section 1033

The Consumer Financial Protection Bureau plans to scrap the Section 1033 rule on open banking, the bureau announced on May 23.

CFPB to rescind BNPL rule

The Consumer Financial Protection Bureau plans to rescind its rule treating ‘buy now, pay later’ providers as credit card issuers.

CFPB won’t enforce Section 1071

The Consumer Financial Protection Bureau is not planning to enforce Section 1071, the bureau announced on May 1.