News – Page 27 – CFPB Journal

CFPB issues two reports concerning mortgage rules

Earlier this month, the Consumer Financial Protection Bureau published two reports assessing the effectiveness of its Ability to Repay and Qualified Mortgage Rule and its mortgage servicing rule.

Kraninger asks for explicit MLA enforcement authority

Consumer Financial Protection Bureau Director Kathleen Kraninger has asked Congress to grant the CFPB clear authority to supervise for compliance with the Military Lending Act.

USAA Federal Savings settles with CFPB

A Texas bank has settled with the Consumer Financial Protection Bureau over allegations it failed to stop payments or resolve errors.

Warren calls for investigation of CFPB name change

Sen. Elizabeth Warren (D-Mass.)

Sen. Elizabeth Warren (D-Mass.) has asked for an investigation of the proposed name change at the Consumer Financial Protection Bureau.

CFPB settles with Illinois bank

State Farm Bank, FSB, Bloomington, Ill., has settled with the Consumer Financial Protection Bureau for consumer financial protection and credit reporting violations.

Kraninger confirmed by Senate

Kathleen Kraninger

Kathleen Kraninger, Trump’s appointee to lead the Consumer Financial Protection Bureau, was confirmed in a 50-49 party-line Senate vote. The Office of Management and Budget staffer replaces her OMB boss Mick Mulvaney as head of the CFPB.

Name change would cost millions

The name change proposed at the Consumer Financial Protection Bureau could cost regulated entities $300 million if the agency goes through with its switch to the Bureau of Consumer Financial Protection moniker.

Santander settles with CFPB over lax disclosures

Dallas-based Santander Consumer USA has settled with the Consumer Financial Protection Bureau over allegations it used deceptive acts or practices in marketing auto loan add-ons and extensions.

CFPB to define ‘abusive’ for future UDAAP enforcement

Acting Director Mick Mulvaney indicated that the bureau’s prior enforcement on allegedly abusive practices had been controversial and that he hoped to provide more clarity for the financial services industry.

OIG offers criticism, praise of bureau information security

The Consumer Financial Protection Bureau could be better at handling its enterprise risk management, although it is adequate in other information security areas, according to an OIG report.