Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, has ousted the 25 members of the agency’s Consumer Advisory Board. According to CNN, the board was told on a conference call Wednesday (June 6) that it would not meet again until new members are appointed....
The Consumer Financial Protection Bureau (CFPB) has announced that it is working with the Commodity Futures Trading Commission to develop a regulatory sandbox for FinTech firms. “We are … in the process of putting together, for lack of a better word … a FinTech sandbox,”...
The Consumer Financial Protection Bureau’s (CFPB) Acting Director Mick Mulvaney praised members of Congress after President Donald Trump signed the Economic Growth, Regulatory Relief and Consumer Protection Act into law on Thursday (May 24). “I applaud my former colleagues in Congress for coming together to...
Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney is looking to change the Qualified Mortgage (QM) rule. “Our duty is to look at unduly and overly burdensome regulations, and our statutory interest is to see markets function,” Mulvaney said at the National Association of...
Employees at the Consumer Financial Protection Bureau are not going down without a fight. According to American Banker, the union representing the employees is already battling plans by acting Director Mick Mulvaney to restructure the agency — and is preparing for a bigger fight if...
A restructure of the Consumer Financial Protection Bureau (CFPB) has ended all functions of its student lending office, except for consumer education. According to American Banker, Mick Mulvaney, the CFPB’s acting director, announced the changes in an email to staff. As part of the restructuring, Seth...
The White House is stretching out the tenure of Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, by taking its time in nominating a permanent replacement, according to a report Tuesday (May 8) from American Banker. That would, of course, enable Mulvaney,...
PHH Corporation has decided not to appeal a case that questioned the constitutionality of the Consumer Financial Protection Bureau (CFPB). According to American Banker, this ends a contentious four-year legal battle. Back in 2014, an administrative law judge ruled that PHH’s reinsurance agreements violated the...
In a bid to save money, Mick Mulvaney is considering moving dozens of employees of the Consumer Financial Protection Bureau (CFPB) to the basement of its Washington headquarters, while relocating the others to Dallas. According to American Banker, Mulvaney is looking to cut spending at...
