Card issuers are sounding the alarm about the Consumer Financial Protection Bureau's final prepaid rule, claiming that without fixes the agency has opened the door to potential fraud on unregistered cards.
The Justice Department plans to defend President Trump's executive authority by siding with PHH Corp. in the mortgage lender's controversial case alleging the Consumer Financial Protection Bureau is unconstitutional.
President and CEONational Association of Federally-Insured Credit Unions
CFPB overreach continues to negatively impact credit unions, who are being punished for behaviors they never engaged in. The easiest way to provide regulatory relief for CUs is to finally exempt the movement from all CFPB oversight.
The Consumer Financial Protection Bureau faces its first jury trial in April in a case that could test whether the embattled agency is overstepping its authority and if it can engage in what critics see as Operation Choke Point-style tactics.
The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.