The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange’s (FDX) application to serve as a standard-setting body under the final rule for Personal Financial Data Rights, (“open banking”)...more
On April 3, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published a broad and wide-ranging Policy Statement on Abusiveness (“Policy Statement”) meant to assist “government enforcers” in identifying and...more
On Dec. 18, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) completed its seven-year rulemaking process for debt collection. In 2013, the CFPB embarked on an ambitious journey to write regulations to interpret...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has been a federal agency like no other. Born out of the last financial crisis, the Dodd-Frank Act envisioned the CFPB to be an independent agency, free of “political...more
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its long-awaited Notice of Proposed Rulemaking (NPR) for debt collection. These proposals precede a final rule, that will be known as Regulation F,...more
Consumer Financial Protection Bureau (CFPB or "the Bureau") Director, Kathleen L. Kraninger, spoke yesterday at the Bipartisan Policy Center regarding her outlined vision for the Bureau. ...more
In an ongoing, high-profile legal debate, court opinions on the constitutionality of the structure of the Bureau of Consumer Financial Protection (“Bureau”) – previously known as the Consumer Financial Protection Bureau...more
While the rest of the country was scattering for Thanksgiving celebrations, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB or Bureau) since July 17, 2013, was quietly plotting his own...more
Pursuant to Executive Order 13772, issued February 3, 2017, the Department of Treasury has issued a report, A Financial System that Creates Economic Opportunities for Banks and Credit Unions (the "Report"), which sets forth...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has launched a series of initiatives signaling that small business lending will be its next top priority.
Under 12 U.S.C. § 5481(12) of the Dodd-Frank Act, the...more
In a groundbreaking decision on October 11, 2016, the D.C. Circuit held the structure of the Consumer Financial Protection Board (CFPB) unconstitutional. Citing the "CFPB's concentration of enormous power in a single,...more
In response to a recent consent order against a depository institution and several other examinations of major banks, five federal financial regulators have issued an inter-agency guidance ensuring that depository...more