CFPB

Federal Reserve Chair Jerome Powell appointed a new leader of the Fed Office of Inspector General, who will have oversight of the Consumer Financial Protection Bureau as well. Days later, the Fed announced its intent to investigate efforts to make massive staff cuts at the bureau ahead of his arrival. Read on »

The Consumer Financial Protection Bureau singled out rulemakings pertaining to its Loan Originator Compensation (LO Comp) rule and mortgage servicing rules for review by the Office of Management and Budget. The inclusion of the word “rescission” in the official title listed for the LO Comp rulemaking has raised questions among legal experts. Read on »

The Consumer Financial Protection Bureau asked a federal court to vacate the agency’s data privacy rule, implementing Sec. 1033 of the Dodd Frank Act. The bureau’s arguments against its own rule paralleled those expressed by its most ardent detractors. Read on »

A clean energy trade organization has filed a legal complaint in federal court targeting Consumer Financial Protection Bureau leadership and the agency’s Property Assessed Clean Energy final rule, claiming it will harm its members. Read on »

The volume of guidance withdrawn by the Consumer Financial Protection Bureau’s in May has raised many eyebrows among regulators, attorneys and financial professionals. One of the most notable examples is an interpretive rule concerning states’ ability to enforce federal consumer protection laws against national banks and federal savings associations. Read on »

The Consumer Financial Protection Bureau and the Department of Justice filed a motion in U.S. District Court to terminate a 2021 consent order with a Jacksonville, Miss., lender which was accused of redlining. The order was scheduled to expire in October 2026. Read on »

Senators pressed the Department of Justice to investigate whether Department of Government Efficiency employees broke conflict of interest laws by cutting staffing at government agencies like the Consumer Financial Protection Bureau while holding hundreds of thousands of dollars in private companies. Read on »

The Consumer Financial Protection Bureau added to mounting criticism claiming it is more focused on serving the interests of big business than protecting consumers after the agency withdrew its notice of proposed rulemaking (NPRM), “Protecting Americans from Harmful Data Broker Practices (Regulation V).” Read on »

The state of New York is suing Capital One Financial Corp., alleging charges similar to those previously brought by the Consumer Financial Protection Bureau in a lawsuit the bureau later dropped. Capital One told Dodd Frank Update it plans to defend itself against the allegations. Read on »

The Consumer Financial Protection Bureau withdrew its notice of proposed rulemaking designed to prevent harmful information-sharing practices by data brokers. The bureau’s interim leadership determined the proposal did not align with the agency’s current policy interpretations or objectives. Read on »