News & Analysis as of

Director Mulvaney Consumer Financial Protection Bureau (CFPB)

Hudson Cook, LLP

The CFPB 4.0 - A Year of Changes: New Director, New Developments, New Directions

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We've recently seen en unprecedented level of change at the Consumer Financial Protection Bureau (CFPB) including new leadership (twice), new activity, and a new take on the agency's small dollar lending rules. Nothing may be...more

Ballard Spahr LLP

House Financial Services Committee passes Consumers First Act

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On March 28, 2019, the House Financial Services Committee passed H.R. 1500, the Consumers First Act, by a 34-26 vote. The bill is intended to reverse various actions taken by Mick Mulvaney during his tenure as CFPB Acting...more

White & Case LLP

Consumer financial services: The road ahead: Student loans

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In 2018, the CFPB shifted away from student lending supervision and enforcement. We anticipate this trend to continue in the year to come, with states seeking to fill any voids left by the Bureau....more

White & Case LLP

Consumer financial services: The road ahead: Small-dollar loans

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In February 2019, the CFPB released the highly anticipated revamp of its Payday Rule, reinforcing its more lenient attitude towards payday lenders. In light of the Bureau’s softer touch, as well as similar developments at the...more

White & Case LLP

Consumer financial services: The road ahead: CFPB structural changes

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During his tenure, former CFPB Acting Director Mick Mulvaney brought significant changes to the Bureau’s structure and operations. As the new CFPB Director, Kathy Kraninger will have the benefit of a full five-year term to...more

Manatt, Phelps & Phillips, LLP

CFPB News: ‘Regulation by Enforcement’ Over, Other CFPB Updates

To no one’s surprise, Bureau of Consumer Financial Protection (CFPB or Bureau) acting director Mick Mulvaney declared regulation by enforcement dead. In a speech to the Mortgage Bankers Association (MBA), he also hinted the...more

Manatt, Phelps & Phillips, LLP

CFPB Updates: First Mulvaney Lawsuit, Questions About Disparate Impact

The latest news from the Bureau of Consumer Financial Protection (CFPB or Bureau) includes the first lawsuit filed under the leadership of Acting Director Mick Mulvaney, committee approval of his permanent replacement and the...more

McGuireWoods LLP

Mulvaney’s First New Enforcement Action Continues Focus on Asset-Advance Firms

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In the latest sign of regulatory scrutiny of asset-advance companies offering consumers what regulators believe are in fact regulated “credit” under federal law and “loans” under state law, the Bureau of Consumer Financial...more

Ballard Spahr LLP

Settlement Likely In CFPB’s Case Against T3 Leads

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It appears that Acting Director Mulvaney’s BCFP is about to settle a case that former Director Cordray’s CFPB filed in 2015 against D&D Marketing, which allegedly engages in lead generation for payday, tribal, and offshore...more

Burr & Forman

Consumer Financial Protection Bureau Announces Launch of “Regulatory Sandbox” for Blockchain Technology and Cryptocurrencies

Burr & Forman on

Mick Mulvaney’s tenure as acting director of the Consumer Financial Protection Bureau (“CFPB” or “the Bureau”), a position he has held since November of 2017, is coming to an end. It is anticipated that President Trump’s...more

Ballard Spahr LLP

All American Check Cashing and amici file briefs in Fifth Circuit interlocutory appeal

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All American Check Cashing and the other appellants have filed their principal brief in their interlocutory appeal to the U.S. Court of Appeals for the Fifth Circuit of the district court’s ruling upholding the CFPB’s...more

Ballard Spahr LLP

Leandra English, CFPB Deputy Director, to resign and drop lawsuit against Acting Director Mulvaney and President Trump

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Leandra English, who was appointed CFPB Deputy Director by former Director Cordray before his November 2017 resignation, announced today that she will resign as Deputy Director early next week. Ms. English indicated that her...more

Moore & Van Allen PLLC

Mick Mulvaney’s Consumer Financial Protection Bureau

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Mick Mulvaney was appointed Acting Director of the Consumer Financial Protection Bureau (Bureau) on November 25, 2017. His term will end on June 22, 2018, unless the President nominates a Director prior to that date, in which...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Commerce Department on Thursday announced a deal with China that will see the US lift stringent American sanctions on telecom giant ZTE in exchange for ZTE’s payment of a $1 billion fine and allowing the US to “more...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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We’ve begun exploring here the impact that the White House’s Iran deal pullout (and subsequent threat to impose sanctions on Iran’s trading partners) will have on particular EU-based companies (right, Peugeot)?  Now we’ve...more

Ballard Spahr LLP

End of FVRA time limit on Mick Mulvaney’s Acting Director tenure drawing closer

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The end of the 210-day period during which Mick Mulvaney can serve as CFPB Acting Director under the Federal Vacancies Reform Act (FVRA) in the absence of President Trump’s nomination of a permanent Director is drawing...more

Ballard Spahr LLP

Mulvaney comments on enforcement approach, use of disparate impact

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According to a Politico report, CFPB Acting Director Mick Mulvaney, speaking at a Washington, D.C. event, commented on changes to the Bureau’s approach to bringing enforcement actions and the Bureau’s plans to review the use...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

A political crisis in Rome has economics [at least partially] and EU commitment at its core and is reminding some observers of the Greece morass of a few years back. The uncertainty the situation’s creating is not expected to...more

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