Category Archives: Consumer Financial Protection Bureau

Some remarkable statements in the opinion (this is all I have time for now):. Judge Jackson wrote of the CFPB’s employee testifying for the agency: “He had the demeanor of an abused wife brought to court by her husband to drop the charges.” “The testimony and the contemporaneous documents suggest that those last minute communications […]

U.S. senators are on their way to approve of big banks burdening constituents with excessive overdraft fees. The Consumer Financial Protection Bureau recently issued a rule to limit overdraft fees charged by the largest banks to $5. But in a late-night move yesterday, the Senate voted to advance a Congressional Review Act resolution that would […]

Here. Oral openers by the industry witnesses call for the CFPB to become a bipartisan commission without noting that Trump has fired the Democratic FTC commissioners, so that bipartisan really means one party. Meanwhile, former CFPB General Counsel Seth Frotman’s oral opening statement was terrific. His written testimony is here. Here’s an excerpt (footnotes omitted): […]

In a recent Hill op-ed, We don’t need the Consumer Financial Protection Bureau — we have courts, Vanderbilt Professor Brian T. Fitzpatrick writes: Many are asking: If the CFPB goes out of business, who will be there to help consumers? The answer is one million lawyers. CFPB has been around for less than 15 years. Consumers […]

I get that the Trump administration’s flood the zone strategy means a lot of things are newsworthy right now. But I’m still surprised and disappointed at how few op-eds (or guest essays if you prefer) and editorials I’m seeing that support the CFPB. While print publications have significant limits on what they can publish because […]

Here.

Here, by Dan Ennis. The Trump administration didn’t follow the proper procedures for the firings–but the firings might be back on when/if it does. Federal District Judge James K. Bredar granted a TRO: the order is here.

Here, by Kyle Campbell. Here’s a quote: CFPB staffers have stopped signing off on redress plans from banks under consent orders, according to a CFPB examiner who is on administrative leave and asked to remain anonymous for fear of retaliation. Because of this, even banks that want to remunerate customers are unable to do so.

So reports Jon Hill in Law360 here. Judge Matthew J. Maddox concluded the CFPB’s actions are not a final agency action.

Here, by Ali Sullivan (probably behind paywall).