The story is headlined Trump's Wells Fargo tweet cited in court hearing as reason to remove Mulvaney as CFPB acting chief. The tweet said Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, […]
Category Archives: Consumer Financial Protection Bureau
The American Banker''s Kate Berry has a report on the hearing here; it is not optimistic about English's chances. Meanwhile, the WSJ has a story headlined The Internal Divide Behind Trump’s Takeover of Consumer Watchdog about how White House conservatives want to dismantle the Bureau while the Treasury sees a role for the Bureau. Mulvaney's appointment is seen […]
by Jeff Sovern Advocates for some positions sometimes block the federal government from researching or supporting research on issues. For example, supporters of gun rights have long had the votes to prevent the government from obtaining data about gun safety. See, e.g., Newsweek's report titled THE GOVERNMENT WON'T FUND RESEARCH ON GUN VIOLENCE BECAUSE OF […]
by Jeff Sovern The tweet reads: Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, substantially increased. I will cut Regs but make penalties severe when caught cheating! If the CFPB continued […]
by Jeff Sovern The old Soviet Union assigned political officers, called zampoliti, to military units to monitor the units for political correctness, as the Soviets defined it, among other purposes. According to an American Banker article authored by Kevin Wack, Mulvaney's plan to embed political staffers in CFPB sparks backlash, the purported Acting CFPB Director, Mick […]
The National Law Journal has the schedule here. If granted, the motion would presumably be in place until entry of judgment.
by Jeff Sovern So reports the American Banker. Mulvaney can't simply rescind the payday lending rule without going through the time-consuming notice and comment process. But if the rule takes effect, and the industry challenges it, what happens if Mulvaney orders the CFPB lawyers not to defend the rule? Does the CFPB have an obligation […]
The architects of the Dodd-Frank Act, including former Senator Dodd, former Representative Frank, and former Treasury official Michael Barr, held a press conference on Thursday to make the point that Congress did not want the Vacancies Act to apply to the CFPB. The American Banker has a report here. Excerpt: They said a federal judge […]