News – Page 30 – CFPB Journal

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.

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.

Mulvaney dissolves consumer advisory board

After canceling multiple meetings with its consumer advisory board, the acting director of the Consumer Financial Protection bureau has dismissed all 25 CAB members, essentially dissolving the board.

Mulvaney skips advisory board meetings

The acting director of the Consumer Financial Protection Bureau has canceled multiple meetings with its consumer advisory board, causing statements of concern from some CAB members.

CFPB may shutter complaint database

The Consumer Financial Protection Bureau’s online database has been inactive since December, and Acting Director Mick Mulvaney doesn’t seem keen to reopen it.

Political wrangling likely to reignite as Mulvaney’s term ends

Acting Director Mick Mulvaney’s temporary term at the Consumer Financial Protection Bureau ends June 22, and President Donald Trump has yet to name his replacement.