Article Archives – Page 33

CFPB settles with TCF

TCF National Bank has settled with the Consumer Financial Protection Bureau over allegations it “tricked” consumers into enrolling in its overdraft protection program.

Kavanaugh no advocate of CFPB

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.

CFPB issues report on student loans

Most borrowers pay off their student loan before the scheduled due date of the final payment, often with a single large final payment.

Leandra English departs CFPB, drops legal case

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.

Citibank to pay restitution but no fine

Citibank will be required to pay restitution totaling $335 million to 1.75 million consumers over violations of the Truth in Lending Act; significantly, however, Citibank will not be fined by the Consumer Financial Protection Bureau.

CFPB settles with Security Group over improper collections

The Consumer Financial Protection Bureau announced a consent decree with Security Group, Inc., for improperly aggressive collections of consumer debts.

Federal judge rules CFPB structure unconstitutional

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.

Trump nominates OMB’s Kraninger to lead CFPB

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 drops lawsuit against PHH

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.

Seal rebrand set in motion by Cordray

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.