CFPB

Kathy Kraninger Confirmed as New BCFP Head

The U.S. Senate has confirmed Kathleen Kraninger as the new Director of the Bureau of Consumer Financial Protection (BCFP).

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CFPB Catches Flak From Banks, Credit Unions on Risks of AI

The Consumer Financial Protection Bureau on Thursday got an earful on the use of artificial intelligence from members of three advisory boards who said traditional financial institutions are at a competitive disadvantage against nonbank fintech firms.

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How Waters Will Keep Pressure on CFPB

There is already intense focus on how the Democratic-run House Financial Services Committee may shine a spotlight on Trump administration-appointed regulators. But that light might shine brightest on one agency in particular: the Consumer Financial Protection Bureau. Rep. Maxine Waters, D-Calif.

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Mulvaney’s Misfire: CFPB Name Change Could Cost Industry Millions of Dollars

From the beginning, acting Consumer Financial Protection Bureau Director Mick Mulvaney’s desire to change the name of the agency he runs was a strange one.

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The CFPB’s “Disclosure Sandbox” Is Shovel Ready – Who Will Be the First!

I find it interesting that the Bureau of Consumer Financial Protection (BCFP) which was formerly known as the Consumer Financial Protection Bureau (CFPB) is offering up a Disclosure Sandbox to assist in developing disclosures that consumers find understandable.

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CFPB’s Remittance Rule Exception Needs a Reboot

The Consumer Financial Protection Bureau’s first major rulemaking put in place new consumer protections for consumer remittances, including many consumer wire transfers sent through the correspondent banking system by banks, credit unions and broker-dealers.

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Consumer Rights Groups Hit Out at CFPB Sandbox Plans

Consumer rights groups in the US have slammed a proposal by the Consumer Financial Protection Bureau to create a regulatory sandbox that would enable fintech firms to bypass red tape.

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Public Interest Groups Oppose Loosening Rules for Fintech Providers

A coalition of 50 public interest groups today sharply criticized the Consumer Financial Protection Bureau’s proposal to gut important consumer-protection rules, especially for fintech providers, arguing the agency does not have the authority to create potentially unlimited exemptions from the very regulations that the CFPB is obligated to enforce.

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Podcast: Inside Warren’s Latest Criticism of CFPB’s Mulvaney

American Banker’s Kate Berry discusses recent events at the Consumer Financial Protection Bureau, including acting Director Mick Mulvaney’s efforts to strip the bureau of its ability to enforce fair-lending rules and his replacement of its consumer advisory board.

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Here’s What the CFPB’s Sandbox Should Look Like

The Consumer Financial Protection Bureau is joining a slew of regulatory agencies across the globe to create a fintech regulatory sandbox, and so far the bureau has offered scant details about the effort.

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CFPB’s Student Loan Ombudsman Resigns in Scathing Letter to Mulvaney

Seth Frotman, an assistant director and student loan ombudsman at the Consumer Financial Protection Bureau, resigned in a scathing letter sent Monday to acting CFPB Director Mick Mulvaney, saying the bureau had abandoned consumers and was no longer enforcing the law. Frotman has spent seven years in the CFPB’s student lending office.

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CFPB Joins Foreign Regulators in Global Financial Innovation Network

The Consumer Financial Protection Bureau today announced a new partnership with 11 financial regulators and related organizations around the globe aimed at creating a Global Financial Innovation Network. The network is intended to facilitate interactions between regulators and innovators as they seek scale and ubiquity for new technologies.

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