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Inside the CFPB

February 3, 2025

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Consumer Complaints Filed With CFPB Double in 2024

The bulk of the complaints submitted to the CFPB last year involved inaccurate information on credit reports. Transunion, Equifax and Experian, as usual, were the most-complained about companies. (Includes two data tables.) Read More

Trump Fires Chopra; Bessent Appointed as Acting Director

CFPB Director Rohit Chopra made a reputation as an aggressive and active regulator, going after bank overdraft charges, credit card late fees and big nonbanks’ wallet apps. Read More

Kraninger Foresees Changes in CFPB Structure, Activity

Former CFPB Director Kathy Kraninger said with GOP control of the House and the Senate, it’s possible that the Trump White House will revamp the structure of the CFPB. Read More

Financial Companies Optimistic About Trump White House

A potential slowdown of regulations and actions taken by the CFPB during the second Trump administration could alleviate regulatory pressure on financial service providers. Read More

WaFd Cites CRA Requirements for Leaving Mortgage Lending

The Seattle-based bank attributed its decision to exit the mortgage business in part to burdensome CRA requirements. The bank received a “need to improve” CRA rating on its lending to low- and moderate-income borrowers. WaFd said it plans to appeal the rating. Read More

Frotman Criticizes Courts for Blocking CFPB Actions

Seth Frotman, general counsel and senior advisor to the director at the CFPB, expressed frustrations with courts for blocking the bureau’s efforts to apply existing laws to address modern and evolving problems. Read More

CFPB Calls on States to Strengthen Consumer Laws

A new report released by the bureau recommended several actions state regulators can take to “mirror” recent work done by the CFPB. Read More

Other News in Brief

MBA calls for nonbank registry delay; bureau fines remittance company; bureau sues Draper & Kramer for redlining; Pennsylvania AG sues mortgage brokers over kickback scheme. Read More

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