The House Financial Services Committee will target White House acting Chief of Staff Mick Mulvaney over his previous role as the interim head of the CFPB, said Maxine Waters, chairwoman of the HFSC, one of the most powerful House committees.
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The critical ability-to-repay provision related to the 2017 payday lending rule is likely to be scrapped by the CFPB, industry attorneys observed.
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Mortgage-related consumer complaints filed with the CFPB dropped 21.5 percent last year to a mere 23,991 — the lowest number since the agency opened its door, according to a new analysis by Inside the CFPB. [Includes two data charts.]
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Most mortgage-related complaints from servicemembers are related to servicing payments, according to an annual report by the CFPB’s Office of Servicemember Affairs.
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The CFPB is seeking a legislative fix to give it clear authority to supervise institutions to ensure compliance with the Military Lending Act.
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Chris D’Angelo, associate director of the supervision and enforcement division at the CFPB, is departing. In February, he will join the New York attorney general’s office as chief deputy attorney general for economic justice.
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CFPB Director Kathy Kraninger assured Republican senators that the CFPB will examine industry concerns regarding the integrated mortgage disclosure rule.
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The CFPB last week fined a broker $1 for bilking veterans out of their pensions. It is the third enforcement action this month by the consumer watchdog, now led by Director Kathy Kraninger.
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