Policy & Regulation

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage from his critics seemingly at every turn, including several times just last week.

The outgoing No. 2 of the Federal Deposit Insurance Corp. and the agency's former chair say the proposed changes would increase the likelihood of another financial crisis.

CUNA and NAFCU have both submitted letters requesting civil investigative demands from the bureau be more specific as to the conduct under investigation.

In addition to changing the name of the Consumer Financial Protection Bureau, the acting director wants to also nix public complaints; the good, bad and ugly in Zelle's ascendance; a case study for digital outage recovery; and more from this week's most-read stories.

FDIC Vice Chairman Thomas Hoenig has been a tough critic of risky practices by big banks and a key voice among federal regulators in support of stronger capital requirements.

Not a penny of the $1 billion fine against Wells Fargo will end up in the hands of customers harmed by practices flagged by regulators.

The financial reform law may hinder growth modestly in the short term, but it should be judged by its impact on the economy years down the road.

Wells may have tried to lure 401(k) customers into more expensive IRAs; Hensarling says he will go along with Senate version of Dodd-Frank rollback.

Sen. Elizabeth Warren, D-Mass., is asking the CFPB’s top ethics official if the agency has taken steps to ensure its acting director, Mick Mulvaney, is excluded from matters involving banks and other firms that contributed to his campaign when he was a congressman.

Readers weigh in on the action at Wells Fargo’s annual meeting, debate the idea of changing the Consumer Financial Protection Bureau’s name, chime in on a postal banking proposal and more.