Acting Consumer Financial Protection Bureau Director Mick Mulvaney is discarding many of the policies of his predecessor but none as important perhaps as the agency's targeting of "unfair, deceptive or abusive acts or practices."
Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.
The Trump administration’s 2019 budget highlights the administration’s goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.
The statutory clock on Mick Mulvaney serving as acting head of the Consumer Financial Protection Bureau is under a year, but the administration's path to getting a full-time director confirmed by the Senate has never looked rockier.
The busy legislative agenda laid out by President Trump in the State of the Union speech Tuesday night casts doubt on how quickly Congress can move on financial services legislation, particularly a housing finance reform package.
The Mobile Act would allow financial institutions to scan or copy a customer’s photo ID when opening an account remotely, while another bill contained provisions that would protect bankers from lawsuits if they report suspected elder financial abuse.
Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."