Under President Trump, the Consumer Financial Protection Bureau relaxed rules on payday lending and debt collection.
Lenders will not have to verify whether borrowers have the ability to pay back high-interest loans
The federal agency has a $1.2 billion fund to pay fraud victims, but can also use it for financial literacy programs.
Some states are stepping up their plans to regulate the debt collection industry. Consumer advocates say the moves come at a time when Federal protections are weakening.
The Consumer Financial Protection Bureau is reviewing a 2009 rule that regulates how banks charge customers who overdraw their checking accounts.
The Trump administration is handing payday lenders a potential victory.
Since the beginning of the Trump administration, the Consumer Financial Protection Bureau has been operating under the direction of Mick Mulvaney, who is also the head of the Office of Management and Budget. He’s deliberately slowed and narrowed the scope of the bureau’s work. Now a new head, Kathleen Kraninger, is likely to be confirmed. She’s a Mulvaney […]
Case in point: The Consumer Financial Protection Bureau is now the Bureau of Consumer Financial Protection.
The Consumer Financial Protection Bureau helps you handle problems you’re having with a financial service or product. Here’s how that process works.
Seth Frotman is latest high-level departure from the CFPB since Mick Mulvaney, Trump's budget director, took over.