Items Tagged with 'Consumer Financial Protection Bureau'

ARTICLES

  • 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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  • Wells Fargo facing $1 billion fine for mortgage and auto insurance issues

    Bank confirms it is facing a fine from CFPB and OCC
    Earlier this week, reports emerged that the Consumer Financial Protection Bureau was seeking a “record fine” against Wells Fargo for mortgage and auto insurance issues. Wells Fargo confirmed Friday that it is indeed facing a fine of $1 billion over mortgage lending and auto insurance abuses.
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  • Last Chance: CFPB will soon end consumer complaint response feedback

    Final ask for info on consumer complaints and inquiries
    The Consumer Financial Protection Bureau issued its 12th and final request for information by asking about its handling of consumer complaints and inquiries. The bureau is asking for assistance in assessing its handling of consumer complaints and consumer inquiries and, consistent with law, considering whether changes to its processes would be appropriate.
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  • Mulvaney’s CFPB yet to initiate enforcement actions

    “We won’t go looking for excuses to bring lawsuits”
    Former Director Richard Cordray left the Consumer Financial Protection Bureau 135 days ago, leaving his place to Acting Director Mick Mulvaney. Since then, the bureau has not issued a single enforcement action. Here's the bureau’s new approach toward keeping the finance industry in line.
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  • CFPB reportedly seeking $1 billion fine against Wells Fargo

    Reuters reports fine would cover mortgage lending and auto insurance issues
    Late last year, reports began to emerge that the CFPB was considering fining Wells Fargo for mortgage lending abuses and other issues. At the time, the potential fine was thought to be less than the $100 million fine levied against Wells Fargo by the CFPB for the bank’s fake account scandal in 2016. But it looks like Wells Fargo could be facing a much larger fine after all, one with a few more zeroes tacked onto it.
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  • CFPB Acting Director Mulvaney refuses to answer Democrats’ questions

    Tells Congress to change oversight requirements
    Mulvaney has made no secret of his own disapproval of how the Consumer Financial Protection Bureau is set up, once calling it a “sick, sad joke.” But now, he is trying his hand at forcing the Democrats to bring further accountability to the bureau by not answering congressional Democrats' questions about his operations because, in short, he doesn’t have to.
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