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 Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for Consumer protection in the financial sector. Its jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States.


The CFPB's creation was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the subsequent Great Recession.

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updated Thu. May 3, 2018

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A group of activists dressed up as loan sharks conducted a mock press conference in front of the Consumer Financial Protection Bureau this week in Washington. It was just a block from the White House. But it might as well have been on the other side of the planet from what Trump's critics say are his ...
The Consumer Financial Protection Bureau issued its ninth request for information, requesting input on its guidance and implementation support. The bureau ... The CFPB will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on April 2, 2018. The request ...

The Consumer Financial Protection Bureau (CFPB) has issued its latest Request for Information (RFI), this time focused on the bureau's guidance and implementation support. “The Bureau is seeking comments and information from interested parties to assist in assessing the overall effectiveness and ...
According to Grewal's office, the nomination of Rodriguez is part of the state's effort to “fill the void left by the Trump administration's pullback of the Consumer Financial Protection Bureau.” Rodriguez's appointment also helps fulfill Murphy's promise to create a ““state-level CFPB” in New Jersey, Grewal's ...
New leadership at the Consumer Financial Protection Bureau promises a whole new approach to running the agency. A new director will have the opportunity to swiftly implement a law-based approach to rule-making through rescinding guidance, changing enforcement priorities, and placing more rules ...
The Consumer Financial Protection Bureau is seeking comment on whether it should change any regulations it inherited from other federal agencies. The information collection effort is consistent with acting CFPB Director Mick Mulvaney's efforts to set the agency on a more pro-industry, anti-enforcement ...

ALTA favors Consumer Financial Protection Bureau restructuring ... The American Land Title Association (ALTA) is lending support to the Financial Product Safety Commission Act of 2018, which replaces the Consumer Financial Protection Bureau's (CFPB) sole director with a five-member commission.
As a congressman from South Carolina, Mulvaney cofounded the anti-regulation House Freedom Caucus and slammed the Consumer Financial Protection Bureau as “sick,” “sad,” and “extraordinarily frightening.” Lately, Mulvaney has been undermining the agency from the inside — walking back recent ...
FILE- In this Jan. 20, 2018, file photo, Director of the Office of Management and Budget Mick Mulvaney stands during a press briefing at the White House in Washington. Under Mulvaney, acting director of the Consumer Financial Protection Bureau, the CFPB has taken a decidedly friendlier approach to the ...
The Consumer Financial Protection Bureau is unconcerned about rising credit card debt. Rather, it says "the market shows significant innovation.” (Chicago Tribune). Unlike most people, Seal Beach resident Tom Hazelleaf took the time to read the contract when he recently received a new MasterCard.
Equifax said in a federal filing on Friday that it is still under investigation by the Consumer Financial Protection Bureau (CFPB), despite reports the agency had pulled back its probe. In a filing with the Securities and Exchange Commission (SEC), Equifax cited the CFPB among multiple federal agencies ...
The acting director of the Consumer Financial Protection Bureau (CFPB) said Thursday he thinks he could remain in charge of the agency for as long as another six months while waiting for President Trump · Donald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump ...
The Consumer Financial Protection Bureau issued a request for information Thursday on the bureau's public reporting of consumer complaints, which has long vexed the financial services industry. The CFPB is required by statute to collect, investigate and respond to consumer complaints. The bureau's ...
Mick Mulvaney, acting head of the Consumer Financial Protection Bureau, has made clear his desire to slash the agency's budget, but what he plans to cut to meet his spending goals is more of a mystery. Mulvaney grabbed headlines in January when he requested "zero" in additional funding for the ...
Former head of the CFPB, Richard Cordray is concerned about the direction the bureau is taking under new leadership. Credit WIKIMEDIA. The first head of the national Consumer Financial Protection Bureau says he's concerned about the shift in direction for the agency.
In early February, the Federal Reserve delivered its most significant punishment of a major bank in a generation, sanctioning Wells Fargo for its pattern of customer exploitation. A few blocks away, meanwhile, another of the giant bank's regulators, the Consumer Financial Protection Bureau, has recently ...
Cordray Ron Sachs/CNP/TNS/NewscomAs a result of its unique structure, the Consumer Financial Protection Bureau (CFPB) is insulated from accountability by the democratically elected branches of government. While there are efforts underway to fix this, they have so far been frustrated. Now the Trump ...

President Trump's appointee running the Consumer Financial Protection Bureau is making radical changes to make the agency less aggressive in its mission. An internal memo obtained by NPR says the CFPB will unveil a new strategic plan on Monday. The moves are frustrating staffers at the bureau.
The Consumer Financial Protection Bureau was established in the aftermath of the financial crisis, as part of the 2010 Dodd-Frank legislation, with the intended goal of protecting consumers from abusive practices by banks, mortgage lenders, and other financial institutions. In part because of its strong ...
The Consumer Financial Protection Bureau asked a federal judge in Kansas to dismiss a case in which it had alleged four lenders' loans violated interest ... The Consumer Financial Protection Bureau last year sued four lenders affiliated with a Northern California Native American tribe, alleging their costly ...
The acting director of the Consumer Financial Protection Bureau (CFPB) dropped the agency's probe of a payday loan collector and is mulling ending cases against three high-interest lenders, Reuters reported Friday. Acting CFPB Director Mick Mulvaney John (Mick) Michael MulvaneyTrump names ...
The Consumer Financial Protection Bureau today issued a request for input from the finance industry on its rulemaking process. The bureau put in a request for information, and is seeking comments and information from interested parties to help assess the overall efficiency and effectiveness of its ...
The former chief executive of a payday lending company that had been under investigation by the Consumer Financial Protection Bureau has asked to be considered for the top job at the watchdog agency. Such a request would have been extraordinary in the years when the agency was run by an Obama ...
Who better to police the predatory lenders than a former CEO of a predatory lender? By Charles P. Pierce. Mar 8, 2018. Getty Images. Oh, come on. Really? From CBS News: Under Cordray, for instance, the CFPB opened an investigation into lending practices at World Acceptance (WRLD). On Jan. 22, the company said ...
The Consumer Financial Protection Bureau (CFPB) needs a new name under President Trump · Donald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump Facebook page denies being influenced by Russians Shulkin says he has White House approval to root out ...
MICHIGAN -- U.S. Senators Gary Peters and Debbie Stabenow today joined 30 of their colleagues in a letter to Office of Management and Budget Director Mick Mulvaney and Consumer Financial Protection Bureau (CFPB) Acting Director Leandra English demanding answers on why the CFPB has ...
The Consumer Financial Protection Bureau was established in the aftermath of the financial crisis, as part of the 2010 Dodd-Frank legislation, with the intended goal of protecting consumers from abusive practices by banks, mortgage lenders, and other financial institutions. In part because of its strong association with ...
The Consumer Financial Protection Bureau asked a federal judge in Kansas to dismiss a case in which it had alleged four lenders' loans violated interest ... The Consumer Financial Protection Bureau last year sued four lenders affiliated with a Northern California Native American tribe, alleging their costly ...
The Consumer Financial Protection Bureau is charged with making sure financial institutions treat consumers fairly. But the Trump administration this week stripped the federal agency's enforcement power that allowed it to pursue cases of lending discrimination. Renae Merle, a reporter with The ...
WASHINGTON — An appeals court on Wednesday upheld the structure of the Consumer Financial Protection Bureau, determining it is constitutional to bar the president from firing its director at will, even as the Trump administration works to weaken the regulator. Wednesday's ruling overturns a November ...
Let me fill you in on one of those issues/areas where I hope to get in even deeper as the year goes on: The Consumer Financial Protection Bureau, also known as the CFPB, or as some in the credit union space call it, “That f**king agency!” Think of the CFPB like this: Your parents get divorced. Your mom ...
The Consumer Financial Protection Bureau announced this week that it would delay its rule on prepaid cards. The rule, which was supposed to take effect this April, will now go into effect April 1, 2019. The prepaid card rule, which was first proposed in 2012 and finalized in 2016, gives prepaid cards ...
WASHINGTON — Mick Mulvaney, the White House budget director, spent the weekend managing the shutdown of the federal government. On Tuesday, he turned his attention back to his secondary job running the Consumer Financial Protection Bureau, a government agency he would probably shut down ...
In what would be a laughable move if it wasn't so incredibly tragic, the Trump administration's newly emasculated Consumer Financial Protection Bureau this week sided with payday lenders over consumers. You heard right. The CFPB, now led by an appointee of a businessman-politician whose ...
In his first quarterly funding request as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is asking for nothing. “This letter is to inform you that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0,” he wrote Wednesday to Janet L. Yellen, chairwoman of the ...
Mick Mulvaney once called the Consumer Financial Protection Bureau a "joke ... in a sad, sick kind of way.” Now, as its acting director, he's in a position to change it. On Wednesday, Mulvaney announced he was launching a review of the entire operation of the consumer watchdog agency created in the ...
Equifax was the subject of more consumer bureau complaints than any other financial services company in all but one state in 2017, according to an analysis of agency data published Thursday. In every state but North Dakota, more residents complained to the Consumer Financial Protection Bureau ...
A federal judge on Wednesday denied a request for a preliminary injunction to remove Mick Mulvaney as acting director of the Consumer Financial Protection Bureau. The judge sided with Mulvaney — President Trump's budget director and choice for the interim position — over Leandra English, the ...
An educational “slush fund” used by the Consumer Financial Protection Bureau has come under the “strictest review” by acting director Mick Mulvaney amid concerns the Obama-era agency has been doling out cash only to Democratic cronies. Mulvaney, President Trump's budget chief who has been ...
Advocates of the Consumer Financial Protection Bureau (CFPB) give the impression that there would be no consumer protection without the CFPB. Yet Congress established a viable consumer-protection framework, layered on top of similar state laws, long before the 2010 Dodd-Frank Act created the ...
When Cordray, an Obama-era appointee, ran the agency, its mission statement read, “The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering ...
Photo via Twitter Some longtime supporters of the Consumer Financial Protection Bureau (CFPB) are expressing dismay about the direction of the agency under the Trump Administration. The agency was created under the 2010 Dodd Frank financial reform law, tasked with protecting consumers from ...
Mulvaney has long been outspoken about his dislike for the CFPB. And one of Mulvaney's first actions after he took over as acting director of the Consumer Financial Protection Bureau was to institute a hiring freeze, stipulating that the bureau could not hire any new employees for at least 30 days. Later, two ...
The Consumer Financial Protection Bureau featured in three of our most read articles of last year, while two others were about the disruptor Ripple. Other highlights included our annual Women in Banking package, the aftermath of the Equifax data breach and news of Amazon's possible banking plans. next.
The Consumer Financial Protection Bureau (CFPB) released its 2018 regulatory agenda, which indicates a slowdown in rule-making and regulation, last week, according to The Wall Street Journal and PYMNTS. That slowdown, which comes amid a leadership scuffle following the resignation of prior ...
If you've been wondering how the Consumer Financial Protection Bureau will change now that President Trump has installed as interim director a man who has called the agency a “sick, sad joke,” wonder no more. Mick Mulvaney, who also continues to serve as White House budget director, said a few ...
While there are many reasons to criticize the Consumer Financial Protection Bureau (CFPB), it being assigned to enforce the nation's financial consumer protection laws should not be one. Yet in another example of how the Bureau's unconstitutional structure and lack of oversight corrupts its mission, ...
For years, one federal agency has been working to make things better for consumers—particularly when it comes to their banks, credit cards, loans and other financial relationships. But with a new acting director at the helm, the Consumer Financial Protection Bureau is undergoing a shakeup, rolling back ...
WASHINGTON (CNNMoney) - The Consumer Financial Protection Bureau on Thursday dropped a lawsuit against four payday lenders. It's yet another clue the agency may be reversing course under President Trump's interim director Mick Mulvaney. The consumer agency in its lawsuit filed last year ...
A federal court last week again ruled in favor of Mick Mulvaney as the rightful head of the Consumer Financial Protection Bureau, which strengthens his hand on such issues as the recent decision to freeze data collection in light of cybersecurity concerns. But Sen. Elizabeth Warren, D-Mass., who conceived ...


 

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