Consumer Financial Protection Bureau News

Judge Dismisses Lawsuit Against Dodd-Frank by 11 States and Texas Bank

A lawsuit by 11 states and a Texas bank challenging the Dodd-Frank law’s financial regulation overhaul was dismissed by a federal judge. U.S. District Judge Ellen Segal Huvelle in Washington Thursday ruled that the states and the State National Bank …

Senator Seeks Review of Consumer Bureau Data Collection

The U.S. Senate Banking Committee’s top Republican is asking the investigative arm of Congress to determine whether the Consumer Financial Protection Bureau is acting within its powers in a sweeping data collection effort. Senator Mike Crapo, an Idaho Republican, made …

Senate to Hold Vote on Consumer Agency Director Next Week

U.S. Senate Democratic leaders plan to hold a vote next week on President Barack Obama’s choice to lead the Consumer Financial Protection Bureau, a Senate Democratic aide said on Wednesday, but they are not expected to muster enough votes to …

Mortgage Insurers Settle for $15 MIllion Over Alleged Kickbacks to Lenders

Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday. The Consumer Financial Protection Bureau said the deals took place …

Financial Firms Tie Support for Consumer Chief Cordray to Bureau Reforms

The Financial Services Roundtable says it will support the confirmation of Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB), provided Congress makes changes to CFPB’s structure. “Our members strongly believe the CFPB should operate under a more democratic …

Senate Committee Approves SEC, Consumer Financial Bureau Chiefs

A U.S. Senate panel voted to move forward two of President Barack Obama’s choices to lead financial regulatory agencies, but his pick of Richard Cordray to head the new consumer bureau likely still faces a tough path to final confirmation. …

Republicans to Block Obama Consumer Financial Bureau Chief

U.S. Senate Republicans on Friday pledged to block President Barack Obama’s choice to lead the consumer finance watchdog until Democrats agree to restructure it, ramping up an expected fight this year over the controversial new bureau. The group of 43 …

President Obama to Nominate White to Head SEC, Renominate Cordray for Consumer Bureau

President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, the White House said on Thursday, showing a desire to have a tough cop policing Wall Street. White, the former U.S. attorney …

Senate Debates Renewal of Federal Deposit Insurance But House May Balk

The U.S. Senate voted on Tuesday to begin debating a bill that would keep a financial crisis-era deposit insurance program in place for two more years, but it will likely face strong opposition from the Republican-controlled House of Representatives. Separately, …

Senate Banking Committee Post Possible for Wall Street Critic Warren

The chances are good, but not guaranteed, that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee, a move that would dramatically elevate her campaign against Wall Street excess. Senior Senate Democratic aides, speaking on condition …