Kate Berry

The report by the Consumer Federation of America said the regulatory agency has "ample legal authority" to enforce the Military Lending Act despite the bureau's plans not to examine firms for compliance.

Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision.

Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers.

The agency wants to change underwriting requirements in the regulation that lenders say will put them out of business, and give companies a break on the compliance deadline.

Despite recriminations about how the crisis and ensuing regulations have tightened loan access, an actual assessment of mortgage credit availability finds the situation is more complicated.

The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel.

Mary Mack, the head of consumer banking at Wells Fargo, said Thursday the San Francisco bank has made significant progress in fixing its culture after a series of scandals over the past two years.

Senate Democrats on Wednesday called for acting CFPB Director Mick Mulvaney to reveal the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused an uproar at the agency.

The head of the National Treasury Employees Union said the appointment of Eric Blankenstein to a senior role “reflects poorly on CFPB management.”

Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.”

What started as a single senior official at the CFPB voicing concerns about blog posts written 14 years ago by Eric Blankenstein, a top agency political appointee, is rapidly becoming a rising chorus of discontent.

The head of the agency’s fair-lending office cast doubt on a proposed reorganization of her office and raised concerns about blog posts written years ago by the political appointee overseeing the project.

A liberal advocacy group says a Trump political appointee at the CFPB must resign after The Washington Post reported the official once called most hate crimes hoaxes.

The bureau's findings and request for information came after acting Director Mick Mulvaney had cited data security as a flaw at the agency.

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year.

The agency wants more information as it conducts fair-lending exams, but conflicting statutes make writing a data collection rule difficult.

The CFPB's move is in line with the other banking regulators who have offices in Atlanta.

The Massachusetts senator said a private event where Mick Mulvaney briefed donors about the party’s midterm prospects may violate the Hatch Act.

Though Acting CFPB Director Mick Mulvaney tried unsuccessfully to strip the agency's fair lending office of its enforcement powers earlier this year, he insisted this week that the bureau "is still in the fair lending business."

In its proposed “disclosure sandbox,” the bureau has eased restrictions on firms seeking a safe harbor from liability.