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  • BREAKING NEWS

BREAKING NEWS

DHS terminates TPS for Haitians, effective Sept. 2

ROHIT CHOPRA


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15 hours ago

Senate Republicans move to slash CFPB funding by half, risking hundreds of job cuts

Read full article: Senate Republicans move to slash CFPB funding by half, risking hundreds of job cuts

Senate Republicans have proposed cutting the Consumer Financial Protection Bureau’s (CFPB) funding by nearly half.

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Federal judge blocks Trump from dismantling Consumer Financial Protection Bureau

Read full article: Federal judge blocks Trump from dismantling Consumer Financial Protection Bureau

A federal judge has agreed to block the Trump administration from dismantling the Consumer Financial Protection Bureau.

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Federal official recounts chaos inside consumer agency after Trump fired its director

Read full article: Federal official recounts chaos inside consumer agency after Trump fired its director

A federal judge overseeing a lawsuit aimed at stopping the Trump administration from dismantling the Consumer Financial Protection Bureau has heard testimony about the chaos that erupted inside the agency last month after government employees were ordered to stop working.

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The CFPB drops its enforcement lawsuits against Capital One, Rocket Homes and more

Read full article: The CFPB drops its enforcement lawsuits against Capital One, Rocket Homes and more

The Consumer Finance Protection Bureau has dropped several enforcement actions against companies like Capital One and Rocket Homes, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.

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Secrecy preceded the shutdown of the consumer protection agency's Washington headquarters

Read full article: Secrecy preceded the shutdown of the consumer protection agency's Washington headquarters

President Donald Trump’s budget chief has sent an email to consumer protection agency employees telling them to stop working.

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Trump administration orders consumer protection agency to stop work, closes building

Read full article: Trump administration orders consumer protection agency to stop work, closes building

The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.

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Trump fires the director of the Consumer Financial Protection Bureau

Read full article: Trump fires the director of the Consumer Financial Protection Bureau

President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover.

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The head of a federal agency for consumers has packed up his office. But will Trump fire him?

Read full article: The head of a federal agency for consumers has packed up his office. But will Trump fire him?

The director of the Consumer Financial Protection Bureau, Rohit Chopra, has been waiting for a phone call, letter, email, text — anything, really — from the Trump administration to say if he’s getting fired.

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US agency says apps that let workers access paychecks before payday are providing loans

Read full article: US agency says apps that let workers access paychecks before payday are providing loans

The Consumer Financial Protection Bureau says apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act.

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Buy now, pay later companies must adhere to credit card standards, consumer agency says

Read full article: Buy now, pay later companies must adhere to credit card standards, consumer agency says

The Consumer Financial Protection Bureau says in a new rule that buy now, pay later lenders are basically credit card providers and must provide the same protections and rights that apply to those lenders.

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Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks

Read full article: Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks

Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits, political and legal challenges to the idea of whether the Federal Government’s aggressive consumer financial watchdog agency should be allowed exist at all.

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Banks prepare to take on the Biden administration over billions of dollars in overdraft fees

Read full article: Banks prepare to take on the Biden administration over billions of dollars in overdraft fees

The Consumer Financial Protection Bureau is expected to propose rules this week that further rein in banks’ ability to charge customers a fee when they overdraw their bank account.

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Banks' growing reliance on chatbots to handle customer service tasks worries consumer watchdog

Read full article: Banks' growing reliance on chatbots to handle customer service tasks worries consumer watchdog

Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place.

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Regulators take aim at AI to protect consumers and workers

Read full article: Regulators take aim at AI to protect consumers and workers

As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation’s financial watchdog says it’s working to ensure that companies follow the law when using AI.

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Gov't to start looking for bias in small business lending

Read full article: Gov't to start looking for bias in small business lending

Banks will need to start reporting the demographics and income of small business loan applicants under new rules published by the Consumer Financial Protection Bureau on Thursday.

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18% drop since 2020 in people with reported medical debt

Read full article: 18% drop since 2020 in people with reported medical debt

The number of people with medical debt on their credit reports fell by 8.2 million — or 17.9% —between 2020 and 2022.

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With Americans feeling pinched, Biden targets ā€˜junk fees’

Read full article: With Americans feeling pinched, Biden targets ā€˜junk fees’

With time running out before the election, President Joe Biden highlighted his administration’s push to crack down on so-called junk fees that banks and other companies charge their customers.

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Regulators try to stop unlawful nursing home debt collection

Read full article: Regulators try to stop unlawful nursing home debt collection

A federal report says nursing homes and debt collectors are flouting a law that prohibits them from requiring friends and family of care home residents to be responsible for costs of the facilities.

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Watchdog head: Bad actors should face more than big fines

Read full article: Watchdog head: Bad actors should face more than big fines

The head of the nation’s financial watchdog is having second thoughts about using fines to deter illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference.

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Consumer watchdog to probe Big Tech payment systems

Read full article: Consumer watchdog to probe Big Tech payment systems

The Consumer Financial Protection Bureau is ordering Apple, Amazon, PayPal and other tech giants to reveal how their proprietary payment networks function.

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Senate confirms Biden pick to lead consumer watchdog agency

Read full article: Senate confirms Biden pick to lead consumer watchdog agency

The Senate has narrowly approved President Joe Biden’s pick to run the Consumer Financial Protection Bureau, giving the bureau a director who is likely to embrace an aggressive ā€œwatchdogā€ role.

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Consumer watchdog agency rediscovers its teeth under Biden

Read full article: Consumer watchdog agency rediscovers its teeth under Biden

The nation’s consumer watchdog is signaling a more aggressive approach toward the financial services sectors after a few years of being on a tight leash.

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Biden consumer watchdog pick signals more aggressive stance

Read full article: Biden consumer watchdog pick signals more aggressive stance

(AP Photo/Susan Walsh)CHARLOTTE, N.C. – President Joe Biden's nominee to run the federal consumer watchdog agency indicated Tuesday that if confirmed he would restore more aggressive enforcement actions against companies and banks that largely faded during the Trump administration. On his first day in office, Biden asked President Donald Trump's CFPB director, Kathy Kraninger, to resign. Part of the law that overhauled the entire financial industry, the CFPB was given the mission to be an aggressive regulator and a watchdog for American consumers. He left the bureau in in the final days of the Obama administration to work for an outside consumer advocacy group. In 2018, President Donald Trump nominated Chopra to the FTC to fill the Democratic seat on the regulator.

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Biden picks Chopra, Gensler for financial oversight roles

Read full article: Biden picks Chopra, Gensler for financial oversight roles

President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Gensler, a former Goldman Sachs banker, tightened oversight of the complex financial transactions that helped cause the Great Recession. Consumer and investor advocate groups praised the selections of Gensler and Chopra. Mulvaney had been a vocal critic of the consumer agency and made deep changes to it, softening regulations on payday loans, for example, and pulling back on enforcement efforts. As one of two Democratic commissioners on the five-member Federal Trade Commission, Chopra has been an outspoken critic of practices by big companies, especially tech giant Facebook.

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