The student loan ombudsman at CFPB has resigned, saying the agency’s leaders have chosen to serve powerful financial companies instead of consumers.
Quicken Loans overtakes Wells Fargo as the largest loan originator.
Deliberate efforts to undermine the CFPB will not only prove to be a raw deal for millions of Americans but can cause lasting damage to our economy.
As the Trump administration withdraws from enforcing consumer protection and fair lending law, state attorneys general are stepping into the breach.
The Consumer Financial Protection Bureau stripped the Office of Fair Lending of its enforcement powers. John Taylor, President and CEO of the National Community Reinvestment Coalition said, “I am appalled to see one of the most effective offices within the CFPB stripped of responsibility to stop redlining, predatory lending, and other discriminatory behavior by financial firms.”
Court rules in favor of consumer protection and finds the CFPB’s independent structure constitutional.
Interim Director Mick Mulvaney has stripped CFPB Office of Fair Lending and Equal Opportunities of its enforcement powers against redlining and predatory behavior by financial firms.
The independent structure of the Consumer Financial Protection Bureau is constitutional, an appeals court ruled Wednesday in a blow to President Donald Trump’s efforts to ease regulations on the financial system.
PHH’s challenge to Consumer Financial Protection Bureau leadership structure rebuked by full Court of Appeals