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Consumer Financial Protection Bureau

Financial watchdog expected to regain teeth under Biden

by Mitchell Hartman
Dec 18, 2020
Under President Trump, the Consumer Financial Protection Bureau relaxed rules on payday lending and debt collection.
Consumer advocates want to see the CFPB under Biden tighten rules on payday loans, bank fees and credit report errors.
Roberto Schmidt/AFP via Getty Images
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CFPB rolls back restrictions on payday lenders

by Samantha Fields
Jul 9, 2020
Lenders will not have to verify whether borrowers have the ability to pay back high-interest loans
About 12 million Americans take out payday loans every year, mostly to cover necessities like rent or utilities.
EHStock via Getty Images
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Race and Economy

Black applicants are more likely to be denied mortgages, study finds

by Amy Scott
Jun 26, 2020
And that's one reason for the persistent homeownership gap.
A house for sale in Seattle. Black homeownership rose slightly in 2019, but mortgage denial rates were still much higher — 16% for Black applicants compared to 7% for white borrowers.
Stephen Brashear/Getty Images for Redfin
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How much protection for consumers?

by Ryan Kailath
Apr 11, 2018
Mick Mulvaney is set to testify before Congress on April 11 about how he’s managing the Consumer Financial Protection Bureau. It might be hard to tell, but, the CFPB still there. Click the audio player above to hear the full story. 
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Mick Mulvaney doesn’t think the CFPB needs more money

by Kai Ryssdal and Sean McHenry
Jan 18, 2018
The acting director requested $0 for the bureau’s funding.
Mick Mulvaney, President Donald Trump's pick for acting director of the Consumer Financial Protection Bureau, walks back to the White House from the CFPB building after he showed up for his first day of work on November 27, 2017 in Washington, D.C.
Alex Wong/Getty Images
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Sen. Elizabeth Warren: Trump has "no authority" to appoint interim CFPB boss

by David Brancaccio
Nov 28, 2017
The Massachusetts senator who helped set up the bureau says the president has "created a cloud" over it.
Sen. Elizabeth Warren (D-MA) speaks during a Democratic Policy and Communications Committee hearing in the Capitol building on July 19, 2017 in Washington, D.C.
Joe Raedle/Getty Images
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How much could a new leader reshape the CFPB?

by Tracey Samuelson
Nov 27, 2017
The Consumer Financial Protection Bureau, created in the wake of the financial crisis, is locked in a leadership struggle after its first director stepped down last week.
White House Budget Director Mick Mulvaney, President Donald Trump's pick for acting director of the Consumer Financial Protection Bureau, walks back to the White House from the CFPB building after he showed up for his first day of work today in Washington, D.C.
Alex Wong/Getty Images
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The lawyer representing the CFPB lawsuit explains why he's fighting for this case

by David Brancaccio
Nov 27, 2017
President Donald Trump and the outgoing director of the Consumer Financial Protection Bureau have each chosen different leaders to oversee the watchdog agency. So Leandra English, the current head's pick, has filed a lawsuit.
Mick Mulvaney, President Donald Trump's pick for acting director of the Consumer Financial Protection Bureau, walks back to the White House from the CFPB building after he showed up for his first day of work on November 27, 2017 in Washington, D.C. 
Alex Wong / Getty Images
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Suit seeks to stop Trump from naming acting director of CFPB

by Marketplace Contributor
Nov 27, 2017
Leandra English, who was named interim director of the CFPB by its outgoing director, filed a lawsuit Sunday night.
President Donald Trump arrives for a meeting with House Republicans at the U.S. Capitol on Nov. 16.
SAUL LOEB/AFP/Getty Images
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Head of Consumer Financial Protection Bureau will step down

by Nancy Marshall-Genzer
Nov 15, 2017
Richard Cordray announced today that he’s leaving the Consumer Financial Protection Bureau by the end of the month. President Donald Trump will get to appoint Cordray’s successor, giving him yet another way to reshape U.S. financial regulation. We take a look at how the president is putting his stamp on these regulations.  Click the audio player […]
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