Items Tagged with 'Consumer Financial Protection Bureau'

ARTICLES

  • CFPB declared unconstitutional, again

    Federal judge rules bureau violates Constitution
    For the second time in less than a year, a federal court has ruled that the Consumer Financial Protection Bureau is not constitutionally structured. Earlier this week, U.S. District Judge Loretta Preska of the New York Southern District declared the CFPB to be unconstitutionally structured, as part of a ruling in a case involving a company that provides lump-sum payouts to those awaiting payment in a structured settlement.
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  • MBA, NMHC, others call on CFPB to change multifamily HMDA rules

    Want exemption from HMDA reporting for business-to-business loans
    The Mortgage Bankers Association, the National Multifamily Housing Council, and several other prominent trade groups are calling on the Consumer Financial Protection Bureau to change the Home Mortgage Disclosure Act rules for multifamily lending. The groups want the CFPB to completely exempt multifamily business-to-business lending from HMDA reporting requirements.
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  • Monday Morning Cup of Coffee: Trump to nominate Kathy Kraninger to lead CFPB

    White House confirms OMB official will be named to lead agency
    On Saturday, the White House confirmed that President Donald Trump will nominate Office of Management and Budget official Kathy Kraninger to lead the Consumer Financial Protection Agency. Plus, Zillow and Trulia are hit with a patent infringement lawsuit and megabanks are set to pay out more than $170 billion to shareholders.
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  • Trump expected to name permanent CFPB director next week

    Here are the top candidates
    For the past six months, Consumer Financial Protection Bureau Acting Director Mick Mulvaney has stood at the helm of the bureau, but now that’s about to change. Mulvaney recently explained he was informed by the administration that it plans to nominate a permanent director next week.
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  • Mick Mulvaney: Changing CFPB’s name sends a message

    Changes signs to BCFP at the bureau
    The Consumer Financial Protection Bureau, or should we say Bureau of Consumer Financial Protection, took the next step in its name change by putting up "BCFP" signage at the agency’s headquarters. Acting Director Mick Mulvaney explained this name change is a small but visible way to send a message.
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  • It’s over: CFPB abandons PHH case

    Ends three-year battle
    The three-year battle is now over. The Consumer Financial Protection Bureau moved Thursday to dismiss its case against PHH, a remarkable turnaround that crystallizes the differences between former CFPB Director Richard Cordray and current Acting Director Mick Mulvaney.
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  • CFPB resumes collection of private consumer data

    Completes review of cybersecurity defenses
    The CFPB announced it will once again begin collecting private consumer data after completing a review of its cybersecurity defenses. Acting Director Mick Mulvaney announced in an internal memo that, after an exhaustive review by outside experts, including a comprehensive “white-hat hacking” effort, the bureau can lift freeze it instituted back in December to stop collecting consumer data.
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  • 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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