Newsletters

02.16.18

CFPB: Fair Lending Moves, New RFIs and Director Fight

In the latest headlines from the Consumer Financial Protection Bureau, the Fair Lending Division has a new home, Requests for Information (RFIs) ask for insight on administrative actions and enforcement processes, and the never-ending battle over leadership continues.


02.16.18

New York DFS Cybersecurity Certifications Due

The time has come for entities regulated by the New York Department of Financial Services to make their first certification of compliance with the regulator’s cybersecurity rules.


02.01.18

CFPB Upheaval Continues: From RFIs to Leadership Philosophy

With the near-daily stories coming out of the Consumer Financial Protection Bureau (CFPB or Bureau), the question has become what isn’t happening at the Bureau.


02.01.18

CFPB’s Relaxed ‘Prepaid Accounts Rule’ Fixes Key Problems

Mick Mulvaney’s CFPB has now issued final changes to its Prepaid Rule, and the payments industry receives a huge reprieve from some of the more draconian elements of the original rule as issued in 2016.


01.31.18

Reversing Course, D.C. Circuit Declares CFPB Structure Constitutional

In a divided ruling of the entire U.S. Court of Appeals for the D.C. Circuit, the court held today that the Consumer Financial Protection Bureau (CFPB) structure is constitutional, reflecting a legislative desire to establish a truly independent agency.


01.24.18

Mulvaney to CFPB: No More ‘Regulation by Enforcement’

In an email to staff leaked to ProPublica, Acting CFPB Director Mick Mulvaney questioned the “previous governing philosophy” of the bureau, and he signaled a major shift in enforcement methodologies and priorities by suggesting the days of “regulation by enforcement” were ...


01.18.18

CFPB News: Existential Questions, Payday Lending Reexamined

It’s a huge week for the Consumer Financial Protection Bureau (CFPB), as it announces a “call for evidence” on how well it is performing its “proper and appropriate” functions, and the bureau announces that it will reconsider a tough payday lending rule that was ...


01.18.18

FSOC Cautions Industry About Cybersecurity Risks

Cybersecurity threats are the biggest challenge facing the financial services industry, the Financial Stability Oversight Council (FSOC) declared in its annual report, calling on federal regulators to ensure that banks are taking appropriate steps to protect their businesses.


01.18.18

Mortgage Servicer Reaches $45M Deal With AGs

In a settlement involving the attorneys general of 49 states and the District of Columbia, a national mortgage servicer agreed to pay roughly $45 million for allegedly violating state and federal laws on foreclosures, loan modifications and servicing, including more than $31 million in payments to ...


01.18.18

Hensarling Staffer Headed to CFPB

Continuing the changing of the guard at the Consumer Financial Protection Bureau (CFPB), the former staff director of the House Financial Services Committee will step into the role of the bureau’s chief of staff.