For our webinar last week, “The Times at the CFPB are A-Changing: Perspectives on the CFPB Under Acting Director Uejio and Director Chopra,” we were joined by special guest former CFPB Director Richard Cordray. The webinar...more
The Biden transition has announced the members of its agency review teams....more
On November 10, the Senate Banking Committee will hold a hearing, “Oversight of Financial Regulators.”...more
The CFPB and FTC have filed a joint amicus brief in the U.S. Court of Appeals for the Second Circuit urging the court to reverse a district court ruling that an individual who had already received credit from the defendant...more
The CFPB has issued its Spring 2020 Semi-Annual Report to Congress covering the period September 30, 2019 through March 31, 2020.
The report represents the CFPB’s fourth semi-annual report under Director Kraninger’s...more
7/28/2020
/ Banking Sector ,
Congressional Investigations & Hearings ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Fair Lending ,
Financial Institutions ,
Financial Services Committee ,
Financial Services Industry ,
Regulatory Agenda
On July 29, 2020, the Senate Banking Committee will meet remotely to conduct a hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” CFPB Director Kraninger is the only scheduled...more
The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” ...more
Tomorrow, September 18, the Senate Banking Committee will hold a hearing, “Fintech: Examining Digitization, Data, and Technology.” Topics expected to be discussed include data privacy and the Treasury Department’s recent...more
The CFPB’s newly-released Summer 2018 edition of Supervisory Highlights represents the CFPB’s first Supervisory Highlights report covering supervisory activities conducted under Acting Director Mick Mulvaney’s leadership. ...more
9/12/2018
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Debt Collection ,
ECOA ,
Financial Services Industry ,
Mortgage Servicers ,
Mortgages ,
Payday Loans ,
Regulatory Oversight ,
Small Business Loans ,
Supervisory Highlights ,
Title Loans ,
Transparency
The FTC has filed comments on the CFPB’s Request for Information regarding its civil investigative demands and investigational hearings.
...more
The CFPB has issued a request for information that seeks comment on its guidance and implementation support. Comments on the RFI must be received on or before 90 days after the date the RFI is published in the Federal...more
3/29/2018
/ Banking Sector ,
Civil Investigation Demand ,
Comment Period ,
Consumer Complaint Management ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Oversight ,
Request For Information ,
Rulemaking Process
The CFPB has apparently decided to put its monthly complaint reports on hold.
The CFPB’s last monthly complaint report was its October 2017 report, a “special edition” report that provided data on servicemember complaints...more
The American Banker has reported that last week, Senator Lindsey Graham introduced a joint resolution under the Congressional Review Act (CRA) to override the CFPB’s final payday/auto title/high-rate installment loan rule...more
3/27/2018
/ Ability-to-Repay ,
Administrative Procedure Act ,
Automotive Loans ,
Banking Sector ,
Congressional Review Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Joint Resolutions ,
Legislative Agendas ,
Legislative Committees ,
Online Marketplace Lending ,
Payday Loans ,
Regulatory Oversight ,
Title Loans
The D.C. Circuit has released the names of the judges who will hear the oral argument scheduled for April 12 in Leandra English’s appeal in her action seeking a declaration that she, rather than Mick Mulvaney, is the lawful...more
The CFPB has published a notice in the Federal Register soliciting applications for membership on its Consumer Advisory Board and its Credit Union Advisory Council. Submissions must be received by April 23, 2018....more
The CFPB is scheduled to publish notices in tomorrow’s Federal Register that it is extending by 30 days the due dates for comments on its first three requests for information....more
The CFPB has issued a request for information that seeks comment on its adopted regulations and new rulemaking authorities....more
3/16/2018
/ Adjudicatory Process ,
Banking Sector ,
Civil Investigation Demand ,
Consumer Complaint Management ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Enforcement Actions ,
New Regulations ,
Regulatory Oversight ,
Request For Information ,
Rulemaking Process
A bipartisan bill introduced in the House earlier this week, the Financial Product Safety Commission Act of 2018 (H.R. 5266), would create a bipartisan five-member commission to run the CFPB. ...more
3/15/2018
/ Administrative Authority ,
Administrative Boards ,
Banking Sector ,
Bipartisan Agreement ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Regulatory Reform ,
Legislative Agendas ,
Proposed Legislation ,
Regulatory Oversight ,
Restructuring ,
Single Director
The CFPB has issued a request for information that seeks comment on its rulemaking processes. Comments on the RFI must be received no later than 90 days after it is published in the Federal Register, which the CFPB expects...more
Three amicus briefs have been filed in the U.S. Court of Appeals for the D.C. Circuit in support of President Trump and Mick Mulvaney, who are asking the D.C. Circuit to affirm the district court’s decision denying Leandra...more
3/8/2018
/ Administrative Agencies ,
Administrative Appointments ,
Amicus Briefs ,
Appointments Clause ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Federal Vacancies Reform Act ,
Preliminary Injunctions ,
Presidential Appointments ,
Trump Administration
Leandra English has filed her reply brief in her appeal of the district court’s denial of her preliminary injunction motion in her action seeking a declaration that she, rather than Mick Mulvaney, is the lawful CFPB Acting...more
According to its newly-released Consumer Sentinel Network Data Book, the FTC received complaints from 2.68 million consumers in 2017, a decrease from 2016 when 2.98 million consumers submitted complaints....more
In remarks yesterday at the winter meeting of the National Association of Attorneys General in Washington, D.C., Mick Mulvaney indicated that the CFPB will be looking to state attorneys general for “much more collaboration...more
3/1/2018
/ Attorney General ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Enforcement Actions ,
Financial Regulatory Reform ,
Policy Statement ,
Regulatory Agenda ,
Regulatory Oversight ,
Rulemaking Process ,
State and Local Government
The 10-3 en banc decision in Zarda v. Altitude Express issued earlier this week by the U.S. Court of Appeals for the Second Circuit is likely to be relied on by regulators and private plaintiffs alleging violations of the...more
3/1/2018
/ Amicus Briefs ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Justice (DOJ) ,
ECOA ,
Fair Lending ,
Gender Discrimination ,
Gender Identity ,
LGBTQ ,
Sex Discrimination ,
Sexual Orientation ,
Sexual Orientation Discrimination ,
Transgender
The CFPB has published a notice in the Federal Register announcing two public subcommittee meetings of its Consumer Advisory Board (CAB) that will take place by conference call....more