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Nearly three-quarters of Americans support the Dodd-Frank Act of 2010 which created the Consumer Financial Protection Bureau, according to a survey commissioned jointly by a pair of consumer advocacy organizations.
TCF National Bank has settled with the Consumer Financial Protection Bureau over allegations it “tricked” consumers into enrolling in its overdraft protection program.
President Donald Trump’s pick for the seat on the Supreme Court vacated by Justice Anthony Kennedy is no fan of the Consumer Financial Protection Bureau.
The deputy director of the Consumer Financial Protection Bureau will step down early next week, a move prompted by Trump’s nomination of Kathy Kraninger to permanently head the bureau, she said in a statement. She also plans to drop her lawsuit seeking to be named acting director of the agency.
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.
Kathleen Kraninger
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.
CFPB Seal
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.
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.