Category Archives: News

CFPB Acting Director calls for Congressional funding mechanism

Acting Director Russell Vought sees the agency he leads as broken and in need of facing the Congressional appropriations process.  Vought outlined his support for overhauling the Consumer Financial Protection Bureau’s funding from a standalone agency July 15 during an at-times intense three-hour testimony before the House Financial Services Committee. “The bureau remains structurally defective,” …

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CFPB updates consumer complaints process

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 …

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Trump nominates CFPB director

President Donald Trump nominated financial executive Brian Johnson to be director of the Consumer Financial Protection Bureau. 

GOP blocks Democrat proposal to strengthen CFPB

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.

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. 

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