Jan 25, 2023 | Federal Regulation, News
CFPB Proposes Rule to Rein in Nonbank Arbitration Contracts Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced a proposed rule to establish a public registry of supervised nonbanks’ terms and conditions in contracts that claim to limit or...
Jan 18, 2023 | Federal Regulation, News
Yellen Agrees to Stay on as Treasury Secretary Through End of Biden’s First Term Treasury Secretary Janet Yellen agreed to remain in her position through the rest of Biden’s presidential term as the White House faces growing challenges like the need to raise the...
Jan 11, 2023 | Federal Regulation, News
CFPB Creates “Repeat Offender Unit” to Target Large Banks In a recent report about its supervisory activity, the Consumer Financial Protection Bureau (CFPB) said that it had created a “repeat offender unit” to monitor large banks that frequently violate consumer...
Jan 6, 2023 | Federal Regulation, News
CFPB Exploring New Rules for Credit Reporting Companies The Consumer Financial Protection Bureau (CFPB) recently released an annual report on deficiencies in how credit reporting companies respond to consumer complaints. The report includes considerations for how the...
Dec 23, 2022 | Federal Regulation, News
Senate Confirms Gruenberg, FDIC Nominees On Monday, the U.S. Senate confirmed Martin Gruenberg to be chairman of the Federal Deposit Insurance Corporation (FDIC), Travis Hill as vice chair, and Jonathan McKernan to the remaining seat. Gruenberg, who has served as...
Dec 21, 2022 | Congressional Legislation, Federal Regulation, News
Republicans Blast CFPB Director in Preview of Next Congress During a contentious hearing last week in which Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the House Financial Services Committee at a hearing entitled “Consumers...
