Articles Tagged with ''Consumer Financial Protection Bureau''

CFPB to dramatically reorganize operational structure

Plans to create new offices and close existing ones
Consumer Financial Protection Bureau Acting Director Mick Mulvaney announced in an email to staff that he plans to reorganize the bureau’s operational structure. And while the CFPB denies the changes represent any practical or even functional change, critics say the restructuring sends a clear message that political appointees are infiltrating the agency with an ideology that will put consumers last.
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Former CFPB Director Richard Cordray secures Democratic nomination for Ohio governor

Trump calls Cordray’s tenure at CFPB a “big failure”
Former CFPB Director Richard Cordray secured the Democratic nomination for Ohio governor with a sizable victory over former Presidential candidate Dennis Kucinich. Cordray will face off against Mike DeWine, Ohio's attorney general, who has the support of President Donald Trump. In praising DeWine, Trump also called Cordray's tenure at the CFPB a "big failure."
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PHH gives up challenge to CFPB constitutionality

Will not pursue case to Supreme Court
The Court of Appeals for the District of Columbia Circuit’s stunning decision to reverse its earlier ruling and uphold the constitutionality of the Consumer Financial Protection Bureau will stand as the law of the land after PHH Corp. elected not to pursue the case to the Supreme Court.
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Top Democrats accuse CFPB’s Mulvaney of violating election law

Claim Mulvaney used official speech to solicit donations in exchange for influence
For the second time in the last eight months, the director of the CFPB stands accused of violating federal election law. Last time, it was former CFPB Director Richard Cordray under the election law microscope. The Office of Special Counsel eventually cleared Cordray of any election malfeasance, but now, it’s Cordray’s replacement who could be facing a Hatch Act investigation.
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Acting Director Mulvaney setting up for big moves at CFPB?

Announces new chief communications officer
Consumer Financial Protection Bureau Acting Director Mick Mulvaney announced his latest change – a new chief communications officer for the bureau and may be tipping his hand at bigger plans to come. Here’s more on his latest promotion, and on what it means for the agency.
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Altisource says CFPB will not fine company over relationship with Ocwen

REALServicing at the center of CFPB probe
Just over a year ago, Altisource Portfolio Solutions disclosed that the Consumer Financial Protection Bureau was investigating the company’s relationship with Ocwen Financial, but now, it looks that investigation is over. Altisource revealed Thursday that the CFPB told the company that its investigation has been completed and that the agency will not pursue an enforcement action against the company.
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CFPB fixes TRID “black hole,” amends Know Before You Owe

Amendment provides clarity for closing cost increases
The Consumer Financial Protection Bureau announced it fixed what those in the mortgage industry have taken to calling the “black hole” in the Know Before You Owe rule. After requesting input from the mortgage industry, the CFPB finalized its amendment to the Know Before You Owe rule, which included changes to the four-day Closing Disclosure period.
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Mick Mulvaney and the long, slow death of the CFPB

Long live the BCFP?
[Commentary] The Consumer Financial Protection Bureau is dead. Did you know that? No, the agency that everyone in the financial services industry loves to hate isn’t totally gone, at least not yet… but the CFPB as you knew it is dead. The bureau’s cause of death? Mick Mulvaney.
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CFPB considers ending public access to bank complaints

“I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says
A new report from the Wall Street Journal says the Consumer Financial Protection Bureau is considering ending the public's access to its complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
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U.S. Treasury boasts deregulation reform accomplishments

Says reducing unnecessary burdens will lead to economic growth
Tuesday, the U.S. Department of the Treasury released a 21-page report entitled Regulatory Reform Accomplishments Under President Trump’s Executive Orders, which, as the title suggests, details the actions it has taken toward decreasing regulations.
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