Law and legal issues

The decision by the appeals court means that a president can only fire the head of the Consumer Financial Protection Bureau for cause. But the ruling also scrapped the CFPB's massive fine against a nonbank mortgage lender.

Lower East Side People’s Federal Credit Union is on a mission to protect the Consumer Financial Protection Bureau from Mick Mulvaney.

A judge in federal district court on Friday declared the plaintiff in Carroll vs. Northwest Federal Credit Union did not have standing to sue due to ineligibility for membership at the credit union.

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders.

In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.

The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.

A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.

In a blow to the Consumer Financial Protection Bureau, a federal judge rejected the agency's request for over $280 million in penalties against the California lender CashCall, ruling that the lender's violations did not justify such a large fine.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.

The Financial Stability Oversight Council filed a joint motion with MetLife that all but cemented the 2016 court ruling throwing out the insurance giant's designation.

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.

Credit unions, trade associations and others wishing to join the Credit Union National Association's class action suit against Equifax have until the end of January to do so.

Lower East Side People's Federal Credit Union's case against the appointment of Mick Mulvaney as head of the CFPB turns on whether it has standing to sue.

The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could impact a ruling on the constitutionality of the CFPB.

The deputy director of the Consumer Financial Protection Bureau filed an appeal Friday in her battle to oust acting CFPB Director Mick Mulvaney, prolonging the legal fight over President Trump's appointment.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.

After a significant setback this week in the legal bid to unseat Mick Mulvaney as acting director of the Consumer Financial Protection Bureau, consumer groups are pinning their hopes on a second case they hope will provide a different result.