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The Consumer Financial Protection Bureau recently overhauled its consumer complaints process to cut down on alleged abuse and to increase efficiency. Changes include: Updating the CFPB’s portal manual so consumer reporting agencies have a standardized process to address complaints. Launching two-factor authentication, requiring users to verify their email address and mobile phone number when creating …
House Democrats last month introduced a bill to strengthen the Consumer Financial Protection Bureau. Senate Republicans rejected the measures in a roll call vote as the midterm elections loomed.
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. …
Continue reading “Trump proposes 50 percent cut in CFPB workforce”
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.
The Consumer Financial Protection Bureau and Department of Justice recently withdrew guidance warning lenders of the legal risks surrounding considering immigration status for credit.
The Consumer Financial Protection Bureau recently instituted a “Humility in Supervision Pledge,” starting with the 2026 examination cycle.
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.
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.
The Consumer Financial Protection Bureau recently reached a $9 million settlement in its 2021 lawsuit against pawn shop company FirstCash, Inc.
The Consumer Financial Protection Bureau recently terminated its consent order against Navy Federal Credit Union and waived any non-compliance allegations against the company.