Items Tagged with 'CFPB director'

ARTICLES

  • 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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  • 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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  • Court of Appeals agrees to quickly review legal battle over CFPB leadership

    Grants Leandra English’s request for expedited review
    After a series of legal defeats in the battle over who’s really in charge of the Consumer Financial Protection Bureau, Leandra English finally received a bit of good news this week when the D.C. Court of Appeals agreed to her request for an expedited review of her fight to be placed in charge of the CFPB.
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  • Remaking the CFPB? Mulvaney wants to hear from you on how to fix bureau

    Will ask for public input on all functions of the bureau
    It’s clearly a whole new world at the CFPB with Mick Mulvaney in charge. How many more changes Mulvaney will bring to the bureau is now a question that the public (including the financial services industry) has the opportunity to weigh in on. Have an issue with the CFPB? Now's your chance to share your two cents.
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  • Federal judge again backs Trump, Mulvaney in fight to lead CFPB

    Leandra English’s bid to be acting director foiled for the second time
    It appears that Mick Mulvaney’s time as acting director of the Consumer Financial Protection Bureau is nowhere close to being done, as, for the second time in two months, a federal judge ruled that President Donald Trump has the authority to name the acting director of the CFPB.
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  • Top Hensarling aide to become CFPB chief of staff

    Becomes second Hensarling aide to take top job at CFPB
    The Republican reshaping of the Consumer Financial Protection Bureau is set to take another step forward, as for the second time in a month, the Trump administration is installing a close aide of one of the CFPB’s chief critics to a top position at the agency.
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  • S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

    Trump administration’s changes will not undo years of heavy regulation
    Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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  • Trump: CFPB not dropping penalties against Wells Fargo, bank will be fined for mortgage issues

    Responds to Reuters report on Mulvaney pausing regulatory action
    In addition to all the issues Wells Fargo faced over the last year, the bank said back in October that it planned to refund more than 100,000 borrowers who were improperly charged for rate lock extensions from Sept. 16, 2013, through Feb. 28, 2017. As it turns out, the CFPB was also looking into the issue and apparently planned to fine the bank for the improper rate lock fees, until Mick Mulvaney took over as acting director – or so it appeared.
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  • New York federal credit union sues Trump to block Mulvaney at CFPB

    Lawsuit claims installation of OMB Director at CFPB is “illegal”
    When Richard Cordray officially resigned as director of the CFPB last month, the agency was thrown into disarray after a fight emerged over who would replace Cordray, with Democrats on one side and Republicans on the other. Now, Democrats have what may seem like an unlikely ally in their fight over who's leading the CFPB – a financial institution that is regulated by the CFPB.
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