RSSCFPB relaunches (smaller) advisory boards
After dissolving its three advisory boards earlier this year, the Consumer Financial Protection Bureau has formally reconvened them with new and fewer members who will serve shorter terms.
Category Archives: Spotlight
Senate committee advances Kraninger
Kathleen Kraninger
Kathleen Kraninger is one step closer to leading the Consumer Financial Protection Bureau after a close vote by the Senate Banking Committee. The committee’s 13 Republicans all voted in favor of the controversial nominee, who is currently a staffer at the Office of Management and Budget, and its 12 Democrats all voted against Kraninger.
Trump nominates OMB’s Kraninger to lead CFPB
Kathleen Kraninger
President Donald Trump nominated an Office of Management and Budget staffer to replace Mick Mulvaney as head of the Consumer Financial Protection Bureau on June 18. Kathy Kraninger, an associate director of the OMB under Mulvaney, received the presidential nod to permanently replace Mulvaney at the CFPB.
Seal rebrand set in motion by Cordray
CFPB Seal
While Acting Director Mick Mulvaney has received heavy criticism for the changes he has made at the Consumer Financial Protection Bureau, at least one change was started under his predecessor – the agency’s new seal.
Trump signs reg relief bill
President Donald Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155), which eases some Dodd-Frank Act requirements, into law on May 24.
OCC, CFPB fine Wells Fargo $1 billion over auto loan and mortgage practices
Wells Fargo was fined $500 million by the Office of the Comptroller of the Currency and $1 billion by the Consumer Financial Protection Bureau, the largest CFPB fine to date.
Senate considering several bills to reform CFPB
The bills recently considered by the Senate range from Sen. Mike Crapo’s (R-Idaho) already-passed and House-bound Economic Growth, Regulatory Relief, and Consumer Protection Act to Sen. Ted Cruz’ (R-Texas) Repeal CFPB Act, which does precisely what its label says.
House bill proposes reform of CFPB leadership
A bipartisan group of two Republicans and two Democrats introduced a bill in the House that would address the contentious issue of leadership at the Consumer Financial Protection Bureau.
President’s budget would cut CFPB funding, limit powers
President Trump revealed his 2019 federal budget plan this week, which features “major savings and reform proposals” across many offices and agencies, including the Consumer Financial Protection Bureau.
Five-year plan continues Mulvaney restraint
The Consumer Financial Protection Bureau will continue its more low-key, hands-off approach to consumer protection and regulation, one which equally emphasizes the rights of the regulated.
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