Mick Mulvaney

Both national credit union trade associations submitted letters in advance of CFPB acting director Mick Mulvaney's House Financial Services Committee hearing.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.

The acting head of the Consumer Financial Protection Bureau said he is “pleasantly surprised” with most personnel but raised concerns about those who lean toward the regulatory philosophy of Sen. Elizabeth Warren.

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence."

Credit unions will know soon how much regulatory relief they might see from Congress and the Consumer Financial Protection Bureau.

The trades encouraged Congress to pass H.R. 5266, which would change the agency's governance to a five-member commission.

According to the Reuters report, which cited unnamed sources, acting CFPB Director Mick Mulvaney is seeking a settlement with Wells over claims related to force-placed auto insurance and improper mortgage fees.

Several states have created their own operations aimed at shoring up what they see as oversight holes created by the CFPB; JPMorgan CEO’s annual letter (47 pages, this one) runs the gamut.

Readers react to Mick Mulvaney’s proposal to restructure the Consumer Financial Protection Bureau, opine on Community Reinvestment Act reform ideas, weigh in on emojis in digital banking and more.

The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions.