Enforcement actions

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.

The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.

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.

The Consumer Financial Protection Bureau faces a busy policy agenda heading into the new year, as well as strong external forces that are beyond its control.

House Financial Services Committee Chairwoman Maxine Waters said oversight of the bank will be a focus for the panel next year.

The two Democrats sent a letter “raising grave concerns about whether the bureau is fulfilling its statutory obligations.”

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, it hasn't filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years.

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, it hasn't sent a Department of Justice referral on a fair-lending violation in two years.

The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.

The regulatory action from the Federal Reserve was one of two U.S. Bank received for its dealings with a payday lender who was later convicted of fraud.

The supervisory letter had required the company to get Fed approval before issuing debt, paying dividends or making quarterly payments on its trust-preferred securities.

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule.

Readers react to the FDIC's fine against a bank over a 5-year-old consent order, Regions Financial's about-face on acquisitions, HUD's promotion of a controversial CFPB official and more.

First Horizon, Iberiabank in year's second-biggest bank merger; bank failure in New Jersey is nation's third in a week; smaller banks take a turn swinging the ax; and more from this week's most-read stories.

The government has used the law to bring fraud claims against Federal Housing Administration lenders, but the new steps respond to criticism that minor offenders were also getting punished.

In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.