A federal judge reportedly blocked the Trump Administration’s plan to lay off 90% of the staff of the Consumer Financial Protection Bureau (CFPB) Friday (April 18) while she determines whether this plan violates her previous order. In her previous order, Judge Amy Berman Jackson said the...
The Consumer Financial Protection Bureau (CFPB) is reportedly in the process of laying off 1,500 employees, which will reduce the agency’s staff to 200. This reduction-in-force (RIF) effort began Thursday (April 17) and was still going on late in the day, Politico reported Thursday, citing...
America’s chief consumer finance watchdog is reportedly scaling back enforcement of financial services companies. Instead, the Consumer Financial Protection Bureau (CFPB) will focus on threats to members of the military and their families, Reuters reported Wednesday (April 16), citing an internal memo. As that report...
The Consumer Financial Protection Bureau (CFPB) reportedly dropped a lawsuit against Comerica Bank that targeted the bank’s handling of a federal benefits program, alleging that it provided poor service to the recipients of benefits. The Bureau told a U.S. District Court in a filing submitted Friday (April 11)...
The Consumer Financial Protection Bureau (CFPB) said Friday (April 11) that it will not prioritize enforcement of a regulation requiring a registry of nonbank financial companies that have broken consumer laws and are subject to federal, state or local government or court orders. “The Bureau will...
The Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees is set to be repealed after the House of Representatives voted Wednesday (April 9) to disapprove it. The House passed the joint resolution (S.J.Res.18) by a 217-211 vote, according to the website of the...
The House of Representatives passed a Congressional Review Act resolution Wednesday (April 9), overturning the Consumer Financial Protection Bureau’s (CFPB) rule, “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications.” The resolution (H.J.Res.64) says that Congress disapproves the rule and “such rule...
A federal appeals court reportedly paused a lower court’s order from last week that reversed President Donald Trump’s actions at the Consumer Financial Protection Bureau (CFPB). At the same time, the appeals court’s ruling left in place provisional agreements that block the Trump administration’s efforts...
Critics of the Consumer Financial Protection Bureau (CFPB) said Wednesday (March 26) at a Capitol Hill hearing that the agency needs a restructuring, and has engaged in what they call “regulatory overreach” that merits a revisiting of its funding structure as well. The hearing, before...
