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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
Dan Smith, who serves as Assistant Director for the CFPB’s Office of Financial Institutions and Business Liaison, will be leaving the Bureau in June. ...more
According to American Banker, Kristen Donoghue, who has served as the CFPB’s Assistant Director of Enforcement since November 2017, has resigned. ...more
As expected based on news over the weekend, the US and Mexico have announced a preliminary deal to revise “key portions” of the North American Free Trade Agreement. Notably, Canada is thus far left out in the cold....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
Leandra English, who was appointed CFPB Deputy Director by former Director Cordray before his November 2017 resignation, announced today that she will resign as Deputy Director early next week. Ms. English indicated that her...more
The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in July 2010 in the wake of a financial crisis, as an independent agency tasked with...more
Richard Cordray was confirmed as the head of the Consumer Financial Protection Bureau (CFPB) in 2013 under President Barack Obama. The CFPB was formed by Congress following the 2008 financial crisis. Although his term ends...more
Fresh off news of decreased SEC enforcement in the past year and the outgoing FDIC chief’s concerns about weakening regs, we’ve got word that the OCC is dialing back its regulatory bent in an effort to return to its “natural...more
According to widespread media reports, Director Cordray informed CFPB staff members today that he expects to resign as CFPB Director by the end of this month. ...more
On September 12, 2017, Director Cordray appeared as the keynote speaker at the Seventh Annual Ohio Land Bank Conference. Director Cordray’s appearance came on the heels of his speech at the Cincinnati AFL-CIO Labor Day...more
One of two scenarios will likely occur in the near future at the CFPB. Either Director Richard Cordray will be fired by President Trump (for cause), or Cordray will resign to enter the 2018 Ohio gubernatorial race. If either...more
As 2017 begins, financial markets and the regulators that oversee them are facing significant uncertainty. When President-elect Donald Trump assumes the Oval Office on Jan. 20, all indications suggest that it will mark a...more