All CFPB articles – Page 6
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ArticleCFPB lawsuit against Fifth Third mirrors Wells Fargo allegations
Fifth Third Bank, National Association could potentially be in as much legal and regulatory trouble as Wells Fargo if allegations of unauthorized account opening brought by the CFPB hold true.
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ArticleCFPB the latest federal agency to propose whistleblower program
The Consumer Financial Protection Bureau wants Congress to authorize a program that would reward whistleblowers who provide tips leading to successful prosecutions.
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ArticleCFPB’s leadership structure, SEC’s authority on SCOTUS docket this week
The Supreme Court will hear arguments this week in cases that question whether the current structure of the CFPB is constitutional, and whether to curb the SEC’s power to return funds to fleeced investors.
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ArticleRegulatory events coming this spring
Check out information on upcoming events from such regulators as the SEC, FINRA, CFPB, and more.
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ArticlePCAOB, CFPB big losers in Trump’s proposed budget
President Trump’s proposed budget for fiscal year 2021 effectively calls for an end to the PCAOB beginning in 2022, while the CFPB would be subject to major funding cuts as soon as next year.
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ArticleCFPB hands out $1 penalties in proposed settlement
The Consumer Financial Protection Bureau seeks to impose seven civil money penalties at $1 each as part of a proposed settlement with former payday lender Think Finance.
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ArticleCFPB stirs controversy with enforcement head hire
The Consumer Financial Protection Bureau has faced the ire of the House Financial Services Committee regarding its hiring of former DOJ employee Thomas Ward to lead its enforcement efforts.
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ArticleCompliance 2020: A timeline
Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.
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Despite reputation, CFPB not toothless under new leadership
Mounting criticism for going too soft on the financial services industry under Trump has not stopped new CFPB Director Kathleen Kraninger from putting her own stamp on the agency. The latest enforcement actions offer valuable insights for compliance officers and corporate counsel.
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ArticleKey U.S. regulators join global financial network
The SEC, CFTC, FDIC, and OCC have joined a group of 50 financial authorities from around the world that comprise the Global Financial Innovation Network.
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ArticleUpcoming regulatory events: SEC, DOJ, FASB, and more
Fall is a busy time for regulators across the compliance landscape. Take note of upcoming events, plus some early conference registration news.
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CFPB adds new executives
The Consumer Financial Protection Bureau recently announced several new additions to its executive team, including the appointment of Bryan Schneider as associate director in the Supervision, Enforcement and Fair Lending Division.
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CFPB’s Consumer Complaint Database gets a second chance
Will improvements to the CFPB Consumer Complaint Database, acknowledged by the CFPB director as the “government’s version of Yelp,” help institutions ward off disgruntled consumers?
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CFPB: First enforcement brought under international money transfer rule
The CFPB has brought its first enforcement action for violations of a rule that took effect in 2013 designed to protect consumers who electronically transfer money from the United States to other countries.
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Court: Hyperlinked e-mails don’t count as ‘communication’ for debt collectors
A federal appeals court sided with a consumer in deciding hyperlinked e-mails violate debt notice requirements.
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CFPB pitches mortgage rule change
The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.
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ArticleLesson from Equifax penalty (at least $575M): Breach ‘entirely preventable’
What resulted in the largest-ever breach of consumer data culminated in the largest data breach enforcement action in history.
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ArticleCalifornia groups sue CFPB for shirking Dodd-Frank data collections
Two advocacy groups are suing the Trump administration and CFPB for failing to disclose data on lending to women-owned, minority-owned, and small businesses.
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ArticleCFPB proposes debt collection rule changes
Proposed regulations to renew the Fair Debt Collection Practices Act include unlimited texting and e-mail in collection efforts.
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ArticleGillibrand touts bill to protect against credit lending discrimination
The Protections in Consumer Lending Act is intended to protect against discrimination when consumers apply for different types of credit.