Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.
The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities.
Sen. Elizabeth Warren, D-Mass., and four other Democrats on the Senate Banking Committee are insisting on a recorded vote by the full Senate for the nomination of Brian Montgomery as Federal Housing Administration commissioner.
The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018.