Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.

The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.

The industry faces still competition for attention in Washington this week, but matters related to credit unions are still being discussed.

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

Verdict on OCC’s supervision of Wells Fargo expected in late spring; TD Bank names Matt Boss its new consumer products chief; CenterState and South State plan $3.2B merger with operations stretching from Virginia to Florida; and more from this week’s most-read stories.

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

The agency has named Thomas G. Ward as the bureau's assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.