With the long-awaited passage of Senate Bill 2155 by the House of Representatives on Tuesday, and the President’s signature two days later, financial institutions are beginning to breathe a major sigh of relief.
No CFPB, no problem?
A Minnesota community bank accused of redlining reached a deal with the Department of Justice (DOJ) with a promise to expand its presence and outreach in minority neighborhoods but pay no civil penalties.
Is the Consumer Financial Protection Bureau (CFPB) leaving the enforcement business?
May an online digital currency platform compel arbitration in a proposed class action brought by a former customer of a now-defunct cryptocurrency exchange?
As the Feds retreat, will states fill the void? New Jersey promises a “state-level” Consumer Financial Protection Bureau (CFPB), and Arizona creates an innovation “sandbox.”
With CFPB Acting Director Mick Mulvaney asking Congress to reduce the power of the very Bureau he presently leads, the question becomes this: Who will take the permanent reins at the CFPB, and when will that change occur?
Lenders that make loans to service members should pay careful attention to the latest developments in this area.
In CFPB news, Mick Mulvaney’s efforts to reshape the Consumer Financial Protection Bureau (CFPB or Bureau) continue apace with more requests for information and improvements to the mortgage servicing rule.
As the Consumer Financial Protection Bureau retreats, states continue their aggressive attacks on short-term lending.