Spotlight – CFPB Journal

Democrats release proposal to strengthen CFPB

House Democrats recently introduced a bill to strengthen the Consumer Financial Protection Bureau.

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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Office of Inspector General finds weaknesses in CFPB cybersecurity approach

The Consumer Financial Protection Bureau’s method to secure its information systems has weakened in recent months amid a loss of contractors and bureau personnel, according to a recent audit by the Federal Reserve Office of Inspector General.

CFPB outlines revised nonbank supervision plan

The Consumer Financial Protection Bureau is proposing a new standard for supervising nonbanks.

CFPB to scrap Section 1033

The Consumer Financial Protection Bureau plans to scrap the Section 1033 rule on open banking, the bureau announced on May 23.

House votes to overturn CFPB overdraft, payments oversight rules

The House of Representatives on April 9 voted to overturn the Consumer Financial Protection Bureau’s proposal to limit the overdraft fees banks with more than $10 billion in assets can charge and the bureau’s oversight of the largest payment firms.

McKernan nominated to lead CFPB

President Donald Trump nominated former FDIC Board Member Jonathan McKernan to direct the Consumer Financial Protection Bureau.

Trump removes Chopra as CFPB director, appoints Bessent to role

President Donald Trump dismissed Rohit Chopra as director of the Consumer Financial Protection Bureau on Jan. 31. Four days later, Trump designated Secretary of the Treasury Scott Bessent as CFPB acting director.

CFPB strikes medical bills from credit reports

The Consumer Financial Protection Bureau banned credit reporting companies from including medical bills on credit reports and credit scores used by lenders.

CFPB announces rule limiting overdrafts

The Consumer Financial Protection Bureau released a final rule Dec. 12 limiting the overdraft fees banks with more than $10 billion in assets can charge.