No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

The group, which serves community development credit unions, filed a brief suggesting that changing the bureau to a bipartisan commission could have an adverse impact on smaller institutions.

An outside paper identifies the statutes, regulations and other bureaucratic realities complicating the banking agencies’ efforts to oversee and benefit from rapidly changing technology.

In the past, the agency cited the legal term in enforcement actions without stating what it meant, but Director Kathy Kraninger has sought to give the industry clearer guidance.

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.

Data from the Credit Union National Association indicates the rule has decreased lending and increased costs as institutions work to stay compliant.

The new group should look at protecting consumer data and how nonprime financial consumers are treated through new regulations.

The agency is sending a strong message that it won’t rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders.

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021.

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In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

The Supreme Court appointed Paul Clement to represent the agency after the bureau’s current director questioned its constitutionality.

In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.

Regulators are beginning to recognize the importance of using alternative data to provide credit for the underbanked. Now is the time to expand its use across the industry.

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington.