• 02.16.18

    CFPB: Fair Lending Moves, New RFIs and Director Fight

    In the latest headlines from the Consumer Financial Protection Bureau, the Fair Lending Division has a new home, Requests for Information (RFIs) ask for insight on administrative actions and enforcement processes, and the never-ending battle over leadership continues.

  • 02.16.18

    Passive Investors in Payday Lending Operations Get Partial Reprieve

    While tossing certain claims brought by Pennsylvania’s attorney general, a federal judge denied part of a motion to dismiss brought by online short-term lenders in an action accusing them of “renting” Native American tribes and out-of-state banks.

  • 02.01.18

    CFPB Upheaval Continues: From RFIs to Leadership Philosophy

    With the near-daily stories coming out of the Consumer Financial Protection Bureau (CFPB or Bureau), the question has become what isn’t happening at the Bureau.

  • 02.01.18

    CFPB’s Relaxed ‘Prepaid Accounts Rule’ Fixes Key Problems

    Mick Mulvaney’s CFPB has now issued final changes to its Prepaid Rule, and the payments industry receives a huge reprieve from some of the more draconian elements of the original rule as issued in 2016.

  • 01.31.18

    Reversing Course, D.C. Circuit Declares CFPB Structure Constitutional

    In a divided ruling of the entire U.S. Court of Appeals for the D.C. Circuit, the court held today that the Consumer Financial Protection Bureau (CFPB) structure is constitutional, reflecting a legislative desire to establish a truly independent agency.

  • 01.24.18

    Mulvaney to CFPB: No More ‘Regulation by Enforcement’

    In an email to staff leaked to ProPublica, Acting CFPB Director Mick Mulvaney questioned the “previous governing philosophy” of the bureau, and he signaled a major shift in enforcement methodologies and priorities by suggesting the days of “regulation by enforcement” were ...

  • 01.18.18

    CFPB News: Existential Questions, Payday Lending Reexamined

    It’s a huge week for the Consumer Financial Protection Bureau (CFPB), as it announces a “call for evidence” on how well it is performing its “proper and appropriate” functions, and the bureau announces that it will reconsider a tough payday lending rule that was ...

  • 01.18.18

    Mortgage Servicer Reaches $45M Deal With AGs

    In a settlement involving the attorneys general of 49 states and the District of Columbia, a national mortgage servicer agreed to pay roughly $45 million for allegedly violating state and federal laws on foreclosures, loan modifications and servicing, including more than $31 million in payments to ...

  • 12.28.17

    CFPB’s Payday Loan, Auto Lending Rules in Jeopardy

    More Consumer Financial Protection Bureau rules may be reversed as lawmakers moved to dismantle both the payday loan rule and the auto lending rule.

  • 12.28.17

    Bill Would Ban Customer Termination by Federal Agencies

    In an attack on heavily criticized practices from Operation Choke Point, the House of Representatives passed a bill that would place limits on federal bank regulators ordering account closures.

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