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.
A federal appeals court agreed Thursday to hear an appeal by the Consumer Financial Protection Bureau challenging a ruling last year that its single-director structure is unconstitutional, a victory for the embattled agency.
The Consumer Financial Protection Bureau is seeking feedback on the benefits and risks of using alternative data sources, such as rent or utility payments, that would allow lenders to build a credit history for unbanked consumers.
Purported revisions to House Republicans' Dodd-Frank rollback bill raised immediate questions about the GOP's strategy, since the provisions — which were more extreme than when the bill was unveiled last year — promptly sparked Democratic opposition.
A House plan to provide regulatory relief will be more far-reaching when it is reintroduced soon by rendering the consumer protection agency toothless and providing banks with extra incentives to opt into a deregulatory plan.
The Consumer Financial Protection Bureau and the New York attorney general filed a lawsuit Tuesday against a New Jersey law firm and its owner for allegedly luring 9/11 first responders and football players with brain injuries into taking out loans with high interest rates as advances on settlements.
The Consumer Financial Protection Bureau on Wednesday ordered Mastercard and the prepaid debit card company UniRush to pay $13 million in restitution and fines for a service breakdown in October 2015 that left thousands of customers without access to their accounts.