Sen. Elizabeth Warren, D-Mass., introduced a bill to create a permanent law enforcement unit to investigate criminal activity at large banks, just as the Senate was close to passing a regulatory relief package.
The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.
The Dodd-Frank Act consolidated massive authority under the Consumer Financial Protection Bureau, but acting Director Mick Mulvaney wants the bureau to take a back seat to states and other federal regulators.
Lonnie Brantley Jr. avoided prison by striking a plea deal for lying to federal housing regulators during an investigation into his troubled mortgage lending business.
The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.
The Consumer Financial Protection Bureau issued a request for information Thursday on the bureau’s public reporting of consumer complaints, which has long vexed the financial services industry.
Democrats used a hearing with Fed Chair Jerome Powell to lay the groundwork for an intraparty debate over the merits of the Senate’s regulatory relief bill.
The acting head of the Consumer Financial Protection Bureau has made clear he wants to rein in the bureau’s spending, but what exactly he plans to cut is a mystery.
“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”
