RSSTrump nominates CFPB director
President Donald Trump nominated financial executive Brian Johnson to be director of the Consumer Financial Protection Bureau.
Author Archives: Sam Wilmes
Trump orders changes to mortgage regulations
President Donald Trump last week directed federal regulators — including the Consumer Financial Protection Bureau — to cut back on mortgage regulations to enable greater community bank involvement in the sector. Trump’s executive order, issued March 13, directed changes to Regulation Z of the Truth in Lending Act to tailor ‘ability-to-replay’ and a potentially broader …
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Democrats call for stop to CFPB winddown
Nearly 200 Democrats and independent members of Congress recently filed an amicus brief calling on courts to stop what they see as the Trump administration’s push to dismantle the Consumer Financial Protection Bureau.
CFPB withdraws Biden-era guidance on immigrants, credit
The Consumer Financial Protection Bureau and Department of Justice recently withdrew guidance warning lenders of the legal risks surrounding considering immigration status for credit.
Office of Inspector General finds weaknesses in CFPB cybersecurity approach
The Consumer Financial Protection Bureau’s method to secure its information systems has weakened in recent months amid a loss of contractors and bureau personnel, according to a recent audit by the Federal Reserve Office of Inspector General.
CFPB receives nearly 14,000 comments on open banking revamp proposal
The Consumer Financial Protection Bureau received nearly 14,000 comments on its proposed revamp of Section 1033 before the Oct. 22 public comment deadline, according to a public database.
CFPB, Synapse reach settlement in lawsuit
The Consumer Financial Protection Bureau has reached a proposed settlement with Synapse Financial Technologies for allegedly failing to keep adequate records of the location of consumers’ funds.
CFPB outlines revised nonbank supervision plan
The Consumer Financial Protection Bureau is proposing a new standard for supervising nonbanks.
CFPB distributing $1.8 billion to consumers from credit scheme
The Consumer Financial Protection Bureau is returning $1.8 billion in “illegal junk fees” to 4.3 million Americans impacted by a large credit repair scheme, the bureau announced Dec. 5 in a press release.
CFPB proposes stricter standards on data brokers
Data brokers selling sensitive consumer information are covered under the Fair Credit Reporting Act, according to a Dec. 3 proposed rule from the Consumer Financial Protection Bureau.
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