Trade Group Seeks LO Compensation Rule Change; MBA Releases New Paper on CFPB Reforms; CFPB Issues Annual Debt Collection Report; Trump’s 2020 Budget Puts CFPB Under Congressional Appropriations,

The CFPB in a recent court filing defended its constitutionality and said even if its structure is unconstitutional there is a better solution than invalidating the agency in entirety.

CFPB Director Kathy Kraninger last week reversed another policy decision made by former acting Director Mick Mulvaney: the bureau will enhance its advisory boards by increasing the frequency of committee meetings and extending membership terms.

CFPB Director Kathy Kraninger faced criticism from Democrats on the Senate Committee on Banking, Housing, and Urban Affairs about recent bureau activities related to fair lending sanctions, the Military Lending Act examination and the new payday lending rule proposal.

CFPB to Hold Spring 2019 Advisory Committee Meetings; FTC Sends Annual Report to CFPB With ECOA Activities; Consumer Groups Seek CFPB Records on Eric Blankenstein; CFPB Warns of Widespread Elder Financial Abuse; CFPB Announces System for Prepaid Issuers to Submit Account Agreements.

In a letter to CFPB staff recently, Rep. Maxine Waters, D-CA, chairwoman of the House Financial Services Committee, urged employees to blow the whistle on agency leaders.

Kathy Kraninger, now into her fourth month as CFPB director, seems to have adopted an industry-friendly approach at the agency, but she’s being less dramatic than her predecessor Mick Mulvaney.

In a rather unusual move, the CFPB earlier this month released written guidance to clarify certain aspects of the integrated mortgage dis-closure rule. This left many industry watchers looking at clues as to whether it signals a change in the agency’s attitude towards written guidance.

The CFPB plans to save $20 million in spending in fiscal 2019, with major budget cuts in its supervision, enforcement and fair lending division.