The battle over the Consumer Financial Protection Bureau (CFPB) came to a head recently with congressional hearings and oral arguments in a court battle over the agency’s leadership. Mick Mulvaney, the White House budget director and acting head of the CFPB, defended his alleged “gutting” of the bureau in his […]
Mick Mulvaney, the director of the Consumer Financial Protection Bureau, asked Congress to strip some of the agency’s powers. The changes Mulvaney asked for would give Congress and the president more power over the agency. Liberal and consumer advocacy groups blasted the requests from Mulvaney, a top critic of the […]
Several staffers at the Consumer Financial Protection Bureau have formed a resistance group they have named “Dumbledore’s Army,” The New York Times reported Wednesday. It’s the latest sign of turmoil at the agency, which is locked in a leadership battle after its outgoing director and President Donald Trump both appointed […]
Democratic Sen. Elizabeth Warren is seeking an inspector general investigation into Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney’s first moves at the helm of the agency. In a letter provided to Business Insider, Warren wrote that those moves represent “a waste of taxpayer dollars and raises questions about […]
Officials at the Consumer Financial Protection Bureau described to Business Insider the state of the agency amid a conflict between its former director and the Trump administration over who is leading it. Some officials said the former director, Richard Cordray, was correct in naming his successor. Others said Cordray pulled […]
President Donald Trump’s naming of Mick Mulvaney as interim chief of the Consumer Financial Protection Bureau has set off a legal battle. Regardless of the outcome, the appointment of a critic of consumer protection to head the agency signals a big push for deregulation. Wall Street has welcomed the move, […]
Two people began Monday with the idea that they were serving as acting director of the Consumer Financial Protection Bureau. Leandra English, whom the outgoing bureau chief named the acting director, on Sunday filed a lawsuit to assert her authority. Mick Mulvaney, the White House budget director whom President Donald […]
Both the White House and the outgoing Consumer Financial Protection Bureau director named a new acting director of the agency on Friday. Whether President Donald Trump’s pick, Mick Mulvaney, or the former CFPB director Richard Cordray’s pick, Leandra English, will lead the group is up in the air amid a […]
Democratic Sen. Elizabeth Warren and her allies are going to war with the Trump administration over who can rightfully select the acting director of the Consumer Financial Protection Bureau. The legal argument over who has proper authority is centered on a short sentence in the 2010 Dodd-Frank Act. Democratic Sen. […]
President Donald Trump and outgoing CFPB director Richard Cordray both named his successor. The opposing sides are now dueling over who has the legal right to do so. The dust-up could lead to two people starting work on Monday believing that they are running the agency. President Donald Trump and […]
Wells Fargo's customer account scandal is...
Wells Fargo is on the hook for $185 million in...
Tens of thousands affected.
American consumers paid nearly $32 billion in overdraft fees in 2014 despite regulators attempts to curb firms' ability to levy them -- but a recent rise in total fees may have drawn the ire of the Consumer Financial Protection Bureau (CFPB).
Sen. Elizabeth Warren (D-Massachusetts)...
Sorry, Wall Street.
Know your rights.