Equifax expecting a fine from the CFPB

Consumer credit reporting agency Equifax announced last week that it expects various forms of punishment from the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s substantial data breach last year.

Bill introduced to alter CFPB funding structure

Sen. David Perdue (R-Ga.) has introduced a bill in the Senate that would alter the current funding structure of the CFPB by bringing it under the typical Congressional appropriations process.

House committee queries recent lack of restitution

The House Financial Services Committee has sent a letter to Kathy Kraninger, director of the Consumer Financial Protection Bureau, requesting additional information on recent enforcement actions that resulted in no restitution to consumers.

CFPB reaches settlement with offshore lenders

The Consumer Financial Protection Bureau has entered into a proposed settlement with a group of corporate and individual defendants over violations of state interest rate caps and other consumer financial protection laws.

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