The Trump administration insisted Saturday that OMB Director Mick Mulvaney was the rightful interim leader of the CFPB, but Democrats said that the appointment was illegal. It remains unclear who is legally in charge.
The Office of the Comptroller of the Currency used "flawed statistics" and misstated the effects of the Consumer Financial Protection Bureau's arbitration rule on community banks, Director Richard Cordray said Friday.
Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.
A week after acting Comptroller of the Currency Keith Noreika announced his support for the fintech charter, his agency argued in a court filing that its fate was too uncertain to be challenged in court.