Articles Tagged with ''Consumer Financial Protection Bureau''

Democrats call out Mulvaney’s reported changes to CFPB fair lending enforcement

53 Democrats, including Warren, Waters, Brown, Menendez, want answers
A group of more than 50 Congressional Democrats are questioning the motivation of Consumer Financial Protection Bureau Acting Director Mick Mulvaney’s reported decision to strip the agency’s Office of Fair Lending and Equal Opportunity of its enforcement powers. The Democrats want to know what exactly Mulvaney is planning to do when it comes to fair lending.
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House approves changes to TRID rule, loan originator licensing rules

Bill brings changes to SAFE Act rules for nonbank originators
The House of Representatives last night approved a bill that could bring big changes to the mortgage industry, including making it easier for loan originators to move from a traditional bank to a nonbank. The bill would also bring changes to the CFPB’s TRID rule. Here are the full details.
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CFPB requests information on its supervision processes

Asks for assistance assessing overall efficiency and effectiveness of program
The Consumer Financial Protection Bureau has been on a mission in recent weeks to find out the true effectiveness of its programs. In order to accomplish this task, it has been sending out requests for input from the finance industry. The bureau announced it is seeking comments and information from interested parties to assess the effectiveness and efficiency of its supervision program.
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Mulvaney unveils sweeping plan to dramatically alter CFPB

Mulvaney: We commit to the CFPB’s statutory responsibilities, but will go no further
Over the past few months, Mick Mulvaney has provided smaller indications about how much differently the Consumer Financial Protection Bureau will function under his leadership than it did under the bureau’s former director, Richard Cordray. But Monday, Mulvaney fully revealed his plan to dramatically alter how the CFPB operates.
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CFPB funding slashed, enforcement authority reined in by Trump budget

More changes afoot for agency already in the crosshairs?
On Monday, the White House released its 2019 budget proposal, and for the second time, took dead aim at the CFPB. While the 2018 version proposed cutting the CFPB’s funding and bringing the agency’s funding under the congressional appropriations process to increase oversight, the 2019 version also calls for those measures but also goes much further to reshape the CFPB’s mission altogether.
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Trump reportedly mulling CFPB’s Mulvaney as replacement for Kelly as chief of staff

Would be former congressman’s third different job in Trump administration
Mick Mulvaney wears a couple of different hats in the Trump administration, currently serving as both the acting director of the Consumer Financial Protection Bureau and the director of the Office of Management and Budget. But the former congressman could soon wear an entirely different hat, White House chief of staff.
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CFPB requests information on its own enforcement process

Requests input from finance industry
The Consumer Financial Protection Bureau announced Wednesday it is investigating and requesting information on its own enforcement process. The Bureau announced it is seeking information to help assess the overall efficiency and effectiveness of its processes related to the enforcement of federal consumer financial law.
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Top Hensarling aide named CFPB chief of staff

Kirsten Sutton Mork served as House Financial Services Committee staff director
Earlier this year, the House Financial Services Committee announced that its staff director, Kirsten Sutton Mork, would be leaving the committee staff “in the coming weeks” to become the chief of staff at the Consumer Financial Protection Bureau. Now, it’s official.
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