Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month.
Cryptocurrencies continue to dominate much of the news, with a warning on bitcoin taking the top spot and a story about Ripple's partnership with MoneyGram doing well. Housing finance reform, Wells Fargo and the CFPB also featured.
The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.
Sen. Elizabeth Warren, D-Mass., is asking acting CFPB Director Mick Mulvaney to account for recent directives limiting agency staff members’ ability to access or acquire electronic data, saying the moves hamper critical agency operations.
When the acting director of the Consumer Financial Protection Bureau announced plans to bring aboard political appointees, many viewed it as antithetical to an independent regulator. But technically there is nothing stopping him.