Inside the Beltway

In a 51-50 partisan split, the Senate voted to confirm Julia Gordon as assistant secretary of housing, federal housing commissioner.

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The seven-month long 2-2 split on the Federal Trade Commission (FTC) ended following the Senate’s 51-50 confirmation of Alvero Bedoya to the commission. The partisan vote gives the FTC a Democrat majority which will allow for Chair Lina Khan to begin enacting more of the administration’s agenda.

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The Senate has confirmed Lisa Cook, President Joe Biden’s nominee to the Federal Reserve Board of Governors. Cook will become the first Black woman to join the Fed board.

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In its quarterly filings with the Securities and Exchange Commission, U.S. Bancorp acknowledged that it was in continued conversations with the Consumer Financial Protection Bureau regarding potential enforcement action against the bank.

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The Consumer Financial Protection Bureau (CFPB) has joined the New York Attorney General’s Office in suing MoneyGram for alleged repeated violations of federal law.

CFPB Director Rohit Chopra had previously announced plans to apply stricter focus and scrutiny to perceived “repeat offenders,” of which he classifies MoneyGram.

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The Consumer Financial Protection Bureau (CFPB) submitted its annual Fair Debt Collection Practices Act report for 2021 to Congress. The report highlighted CFPB actions in 2021 to address consumer complaints and debt collection practices affecting small businesses.

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In a recent statement from the Consumer Financial Protection Bureau (CFPB), the agency has continued its ongoing criticism of the practice of charging overdraft and nonsufficient fund (NSF) fees.

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Fannie Mae’s CEO, chair of its board, and another member of its board all announced they will resign effective May 1.

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The Federal Reserve Board has announced action against six individuals for engaging in fraudulently obtaining loans and grants administered under the Coronavirus Aid, Relief, and Economic Securities (CARES) Act.

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In a letter from the Democrats of the Senate Committee on Banking, Housing, and Urban Affairs, Sen. Sherrod Brown (D-Ohio) and his colleagues called for regulators to find ways to encourage lending to “Main Street.”

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