The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more
The House Financial Services Committee has approved its part of the massive budget bill, saving some $1 billion by, among other things, slashing the CFPB’s budget by more than 60%....more
On February 11, the ranking members from both the House Committee on Financial Services and the House Subcommittee on Financial Institutions sent a letter to CFPB Acting Director Russell Vought expressing concerns regarding...more
More than 185 Democrats in the House and Senate are urging Trump Administration officials to restore the enforcement and supervisory powers of the CFPB....more
This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its semiannual regulatory agenda, outlining its planned rulemaking initiatives. This agenda includes a mix of rules in the pre-rulemaking, proposed...more
The current and incoming Republican leaders of the House Financial Services Committee have asked financial regulators, including the CFPB, to stop “finalizing partisan rulemaking” over the next several weeks....more
The CFPB has issued its Fall 2019 Semi-Annual Report to Congress covering the period April 1, 2019 through September 30, 2019. ...more
CFPB Director Kraninger was the sole witness at a House Financial Services Committee hearing thsi week on the Bureau’s Spring 2019 semi-annual report and at a Senate Banking Committee hearing yesterday on the report. ...more
Director Kraninger was sharply criticized by Democrats at today’s hearing on the Bureau’s semi-annual report held by the Senate Banking Committee....more
In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more
Yesterday, Mick Mulvaney made his first appearance as CFPB Acting Director before the House Financial Services Committee to present the Bureau’s Semi-Annual Report to Congress for the period beginning April 1, 2017, and...more
Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more
As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up. American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated...more
Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more
By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more