Enforcement

Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.”

What started as a single senior official at the CFPB voicing concerns about blog posts written 14 years ago by Eric Blankenstein, a top agency political appointee, is rapidly becoming a rising chorus of discontent.

The head of the agency’s fair-lending office cast doubt on a proposed reorganization of her office and raised concerns about blog posts written years ago by the political appointee overseeing the project.

The comments came on the same day that Denmark’s largest bank announced the resignation of CEO Thomas Borgen and said that as much as $234 billion flowed through its tiny Estonian unit between 2007 and 2015.

Though Acting CFPB Director Mick Mulvaney tried unsuccessfully to strip the agency's fair lending office of its enforcement powers earlier this year, he insisted this week that the bureau "is still in the fair lending business."

Kathy Kraninger has been tight-lipped about her plans for the consumer bureau, but some point to signs that she could curb the agency's power by reducing staff and other costs.

Santander Bank said Wednesday that the OCC had terminated a 2015 consent order related to an identity protection product. It is one of several regulatory headaches the bank and its parent company have resolved lately.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

President Donald Trump's former campaign chairman was convicted on eight fraud counts, including two counts of bank fraud. He faces jail time on each count.

Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.

The letter from lawmakers to the bureau follows a report that the agency does not view the exams as explicitly required by the law.

The bureau is expected to choose an option that could trigger court challenges after a judge yet again refused to halt the rule’s compliance date.

The Fed's order targets affidavits prepared by employees of CitiFinancial in connection with the company's exiting the mortgage servicing business.

Sen. Brian Schatz, D-Hawaii, said it is hard to imagine how Wells Fargo's $8 million remediation plan would correct a mistake that led to 400 wrongful foreclosures.

The bureau wants to encourage more innovation without the threat of enforcement, but observers say regulators also need a testing ground to prove they can regulate fintech.

Bankers at Sonoma Valley Bank were convicted of bank fraud, money laundering and other offenses.

Six months after the Federal Reserve put Wells Fargo on a strict diet — no more growth until it cleans up its act — shareholders are finding it’s not so bad.

Multiple agencies are looking into its purchase of certain credits tied to low-income housing developments, the bank said in a securities filing Friday.

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.

Kraninger, a senior official at the Office of Management and Budget, has been heavily criticized by Democrats on the panel over her ties to the administration's family-separation policy at the border.