Former Consumer Financial Protection Bureau director Richard Cordray took one step closer to becoming the governor of Ohio on Tuesday, cruising to a victory in the state’s Democratic primary. Cordray defeated his main challenger, former U.S. Rep. Dennis Kucinich, by a 40-point margin. Most media outlets had framed the race as a battle between the […]

Mick Mulvaney on Wednesday used his time before Congress to declare the end of regulation by enforcement — all while insisting that he didn’t actually have to answer any questions. “Regulation by enforcement is done,” the acting director of the Consumer Financial Protection Bureau said during testimony before the House Financial Services Committee. “We’re not […]

Faced with a changing landscape at the Consumer Financial Protection Bureau, one state’s Democratic elected officials are taking regulatory matters into their own hands. New Jersey Gov. Phil Murphy promised to create “a state-level CFPB” in his successful campaign last fall, and his attorney general recently framed the appointment of a new watchdog official as […]

Writing in the first semi-annual report to Congress issued under his leadership, Consumer Financial Protection Bureau acting director Mick Mulvaney continued to lay out his vision for a leaner, more hands-off agency. “Congress enumerated nine elements for inclusion in the bureau’s semi-annual reports to Congress,” Mulvaney wrote. “This semi-annual report precisely meets this mandate.” Clocking […]

The Consumer Financial Protection Bureau issued yet another call for public commentary on its practices — this time about its controversial complaint report database. Starting March 7, any interested parties can tell the CFPB what they think about the database, which allows consumers to report issues with mortgage lenders, credit card companies, and other financial […]

A recent federal court ruling affirmed the Consumer Financial Protection Bureau’s place in the financial regulatory framework, but the decision also contained a victory for the business community. “Rulemaking through enforcement efforts for past conduct is rejected,” Phil Schulman, a partner in the Washington, D.C. office of law firm Mayer Brown, said on a Thursday […]

Reverse mortgage professionals dodged a bullet as the second government shutdown of 2018 lasted less than six hours, avoiding potential delays in Department of Housing and Urban Development processing. But that wasn’t all that happened in the world of Home Equity Conversion Mortgages last week. Catch up on what you missed with our list of […]