consumer finance protection bureau

A CFPB rule designed to give consumers more control over their financial data is now in limbo, as banks and fintech companies clash over who gets access — and at what cost.

A potential rule change by the Trump administration could limit the Consumer Financial Protection Bureau’s supervision of auto lenders, including many that focus on buyers with low credit scores.

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 […]