Consumer Financial Protection Bureau (CFPB News

Trump Administration Forms Financial Frauds Task Force

In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins. The inclusion of virtual tokens — along …

Federal Judge Rules Against Consumer Financial Bureau Structure

A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts. The decision by U.S. …

Wells Fargo to Pay $1 Billion Fine for Mortgage, Insurance Sales Abuses

Wells Fargo & Co. will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was …

Trump’s Consumer Protection Bureau Pulls Back on Equifax Data Breach Probe: Reuters

Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax Inc. failed to protect the personal data of millions of consumers, according to people familiar with the matter. Equifax (EFX.N) said …

Court Upholds Consumer Financial Bureau Structure Over Trump, Business Complaints

The Consumer Financial Protection Bureau director’s job regained a measure of security Wednesday when a U.S. appeals court said the agency head can only be fired for “inefficiency, neglect of duty, or malfeasance in office,” in a blow to the …

Congress Kills Obama Ban on Forced Arbitration in Battle Against Class Actions

Banks, credit card issuers and other financial companies will be able to block customers from banding together to sue over disputes, after the U.S. Senate on Tuesday narrowly killed a rule banning the firms from using “forced arbitration” clauses. Republican …

U.S. Consumer Bureau Offers Rules for Financial Data Collection

The U.S. Consumer Financial Protection Bureau is turning its attention to companies that collect consumer financial information to provide services and products. The regulator laid out a series of principles on Wednesday to establish its expectations for accessing consumer’s financial …

Finance Industry Sues to End U.S. Rule Curbing Forced Arbitration for Consumers

A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms. The litigation, filed Friday …

Equifax Promises Improved Consumer Access to Credit Records

Equifax Inc. promised to make it easier for consumers to control access to their credit records in the wake of the company’s massive breach after the top U.S. consumer financial watchdog called on the industry to introduce such a system. …