Person Root Tag

The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could impact a ruling on the constitutionality of the CFPB.

The deputy director of the Consumer Financial Protection Bureau filed an appeal Friday in her battle to oust acting CFPB Director Mick Mulvaney, prolonging the legal fight over President Trump's appointment.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA rules and other policy fixes.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

After a significant setback this week in the legal bid to unseat Mick Mulvaney as acting director of the Consumer Financial Protection Bureau, consumer groups are pinning their hopes on a second case they hope will provide a different result.

U.S. District Judge Timothy J. Kelly on Wednesday said CFPB Deputy Director Leandra English's case was unlikely to succeed on the merits and did not demonstrate irreparable harm.

The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.

The two senators are set to introduce a bill that would force such firms to pay $100 per customer whose personal information was compromised.

The Senate Banking Committee is expected soon to release a bipartisan bill that would significantly reshape the housing finance market, but key issues remain unresolved.

Sen. Elizabeth Warren, D-Mass., is asking acting CFPB Director Mick Mulvaney to account for recent directives limiting agency staff members’ ability to access or acquire electronic data, saying the moves hamper critical agency operations.

Kirsten Sutton Mork, the House Financial Services Committee's staff director, will become chief of staff at the Consumer Financial Protection Bureau.

Sen. Ron Johnson, R-Wis., has called for an investigation into how CFPB Deputy Director Leandra English was approved for a permanent civil service job at the agency.

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.

The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry.

A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.

J. Mark McWatters, chairman of the National Credit Union Administration, is said to be in contention to take over as director of the Consumer Financial Protection Bureau.