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President Trump will withdraw Jonathan McKernan’s nomination as CFPB Director, as he nominates him as the Treasury Department’s Undersecretary of Domestic Policy, the New York Times and Law360 reported....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
The Senate Banking Committee on March 6 approved the nomination of Jonathan McKernan to be Director of the Consumer Financial Protection Bureau. ...more
On February 11, the White House announced Jonathan McKernan’s nomination as Director of the Consumer Financial Protection Bureau (CFPB). McKernan was previously confirmed to the Board of the FDIC by the Senate on a voice...more
On February 11, President Donald Trump nominated Jonathan McKernan to be the new Director of the Consumer Financial Protection Bureau (CFPB or Bureau). If confirmed by the Senate, McKernan will replace Acting CFPB Director...more
The Consumer Financial Protection Bureau (CFPB) has been a focal point for both regulatory oversight and political debate arguably since its inception. Created in 2010 as a response to the financial crisis, the CFPB is still...more
Acting CFPB Director Russell Vought has temporarily put a halt to virtually all of the agency’s work. ...more
In a dramatic series of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has undergone leadership changes, signaling a significant shift in its regulatory approach. These changes began with the firing of...more
In a significant and highly anticipated move, President Donald Trump has fired Rohit Chopra, the Director of the Consumer Financial Protection Bureau (CFPB or Bureau). Rohit Chopra, who had been serving as the Director of the...more
The CFPB currently has a job posting for the position of Associate Director for Research, Markets, and Regulations....more
Somewhat overshadowed by the Supreme Court’s Seila Law decision and other CFPB-related developments was the CFPB’s announcement on Tuesday of personnel changes....more
According to Bloomberg Law, beginning on March 9, Leonard Chanin will serve as part-time CFPB Acting Deputy Director. Brian Johnson, the CFPB’s current Deputy Director, is scheduled to leave the agency on March 6....more
On March 28, 2019, the House Financial Services Committee passed H.R. 1500, the Consumers First Act, by a 34-26 vote. The bill is intended to reverse various actions taken by Mick Mulvaney during his tenure as CFPB Acting...more
House Financial Services Committee Chairwoman Maxine Waters recently introduced the "Consumers First Act," H.R. 1500, a modified version of a bill she introduced in the last session of Congress when Mick Mulvaney was still...more
Thursday afternoon, by a vote of 50-49, the Senate confirmed Kathy Kraninger as CFPB Director. Pursuant to the Dodd-Frank Act, the CFPB Director has a five-year term. ...more
Yesterday afternoon the Senate voted 50 – 49 to invoke cloture and proceed to debate and a final vote on the nomination of Kathy Kraninger to be the next Director of the Bureau of Consumer Financial Protection (“BCFP”). ...more
Politico has reported that Senate Majority Leader Mitch McConnell filed cloture this afternoon on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director. ...more
A number of housing and financial industry trade groups, including the Mortgage Bankers Association and Real Estate Services Providers Council, Inc. (RESPRO®), recently sent a letter to Senators Mitch McConnell (R-KY) and...more
By a 13 to 12 party-line vote today, the Senate Banking Committee approved President Trump’s nomination of Kathy Kraninger to serve as CFPB Director. When the full Senate will consider her nomination and whether it will be...more
According to media sources, the Senate Banking Committee has rescheduled a vote on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director for August 23. There is little doubt that the Committee will approve...more
Thursday’s Senate confirmation hearing for Kathy Kraninger, President Trump’s nominee to lead the Consumer Financial Protection Bureau (“CFPB”), produced a number of testy exchanges with Democrats but no obvious obstacles to...more
In response to the U.S. Supreme Court’s decision in Lucia v. SEC, President Trump has issued an executive order that changes the process used by federal agencies for administrative law judges (ALJs)....more
CFPB Acting Director Mick Mulvaney announced yesterday that he has selected Brian Johnson, who currently serves as CFPB Principal Policy Director, to serve as Acting Deputy Director. Before joining the CFPB, Mr. Johnson...more
On July 6, 2018, Leandra English, through her attorney via Twitter, announced she would be resigning from the Consumer Financial Protection Bureau (“CFPB”)....more
Democratic Senators Elizabeth Warren and Sherrod Brown have sent a letter to Kathy Kraninger, President Trump’s nominee for CFPB Director, seeking documents and other information about Ms. Kraninger’s role in the development...more