The Consumer Financial Protection Bureau (CFPB) reportedly dropped a lawsuit against Comerica Bank that targeted the bank’s handling of a federal benefits program, alleging that it provided poor service to the recipients of benefits. The Bureau told a U.S. District Court in a filing submitted Friday (April 11)...
The Consumer Financial Protection Bureau (CFPB) said Friday (April 11) that it will not prioritize enforcement of a regulation requiring a registry of nonbank financial companies that have broken consumer laws and are subject to federal, state or local government or court orders. “The Bureau will...
The Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees is set to be repealed after the House of Representatives voted Wednesday (April 9) to disapprove it. The House passed the joint resolution (S.J.Res.18) by a 217-211 vote, according to the website of the...
The House of Representatives passed a Congressional Review Act resolution Wednesday (April 9), overturning the Consumer Financial Protection Bureau’s (CFPB) rule, “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications.” The resolution (H.J.Res.64) says that Congress disapproves the rule and “such rule...
A federal appeals court reportedly paused a lower court’s order from last week that reversed President Donald Trump’s actions at the Consumer Financial Protection Bureau (CFPB). At the same time, the appeals court’s ruling left in place provisional agreements that block the Trump administration’s efforts...
Critics of the Consumer Financial Protection Bureau (CFPB) said Wednesday (March 26) at a Capitol Hill hearing that the agency needs a restructuring, and has engaged in what they call “regulatory overreach” that merits a revisiting of its funding structure as well. The hearing, before...
Rep. Andy Barr, R-Ky., said Wednesday (March 26) that three bills he introduced will bring reforms to areas in which the Consumer Financial Protection Bureau (CFPB) has “abused its power and threatened — not helped — consumers in the process.” Barr, who is chair of the House...
Reports of the Consumer Financial Protection Bureau’s (CFPB) death may have been somewhat exaggerated. Last month, the Trump administration shuttered the regulator’s offices and essentially shut down enforcement activity. “RIP CFPB” White House adviser Elon Musk wrote on social media. But as The New York...
Two rules announced by the Consumer Financial Protection Bureau (CFPB) during the Biden administration suffered setbacks in Congress on Wednesday (March 5). The Senate voted Wednesday to approve a joint resolution (S.J. Res. 28) disapproving of the “Defining Larger Participants of a Market for General-Use...
