The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.

The Consumer Financial Protection Bureau dropped an investigation into Credova Financial, a buy now/pay later lender focused on gun financing and subsidiary of PSQ Holdings, where Donald Trump Jr. serves on the board.

The Consumer Financial Protection Bureau doubles its anticipated rulemaking agenda from last year, even as bureau employees expect mass layoffs.

By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.

New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.

The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.

The Consumer Financial Protection Bureau has been investigating the failed banking-as-a-service fintech and is preparing to file a complaint accusing it of unfair acts or practices. 

Rather than deleting the Consumer Financial Protection Bureau, now is the time for the president and Congress to reform and reboot it into the agency that carries out its mission in an apolitical manner.

Supreme Court rulings and provisions in the recently passed budget bill are bolstering the legality of the administration's effort to fire more than 1,000 employees at the Consumer Financial Protection Bureau.

House Financial Services Committee Chairman French Hill  promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau. 

As we enter one of the banking industry's most extreme cycles of deregulation, we should remember it doesn't always work, especially when supervisory police are reduced and consumer protection guardrails are removed, resulting in a high-speed lane for risk-taking banks and nonbanks.

Supposedly written to expand consumers' "freedom," the rule implementing open banking laws is actually central planning in disguise. It can't be allowed to supplant better, market-driven solutions.

More than a year after Synapse went bankrupt, fintech customers who lost money due to the fintech middleware firm's collapse might be made whole through the Consumer Financial Protection Bureau's customer relief fund.

The removal of the Consumer Financial Protection Bureau as a viable regulator has thrown the doors open to the kind of unscrupulous behavior that triggered the last major financial crisis.

The Banking Committee's portion of the Senate budget bill would eliminate the Consumer Financial Protection Bureau's ability to request funding from the Federal Reserve, a move that goes further than House Republicans' version of the bill.

Elon Musk's decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

Banks sued the Consumer Financial Protection Bureau last year to stop the 1033 open banking rule from taking effect. Now the Trump administration plans to kill the rule.

The Consumer Financial Protection Bureau's erosion and the second phase of the Capital One merger with Discover are top of mind for bankers going into June.

Regulators say the Mississippi-based depository satisfied the terms of the $5 million settlement it reached with Biden administration officials in 2021.