Trump administration

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments.

The candidates being discussed lately to run the agency bring experience on consumer protection issues, and potential bipartisan appeal.

Analysts believe a bipartisan coalition supporting limited regulatory relief will hold, but the toxic political environment and more looming budget battles to come could obstruct the banking bill's path.

Many in the industry applauded the Consumer Financial Protection Bureau's new mission statement shifting the agency's focus away from using enforcement actions as a substitute for rules of the road.

Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board.

Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.

The agency’s acting director has recruited several conservative staff members who will likely prove instrumental in charting its future.

Jonathan Dever, a Republican Ohio state representative and defense lawyer, is being touted as a top candidate to lead the bureau, according to multiple insiders.

The agency had accused the lenders of deceiving consumers and failing to disclose the true cost of the loans, which carried interest rates as high as 950% a year.

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.

Mark Calabria, chief economist to Vice President Mike Pence, said passage of the regulatory relief bill could be delayed as policymakers deal with other items such as budget deadlines and an infrastructure bill.

National Credit Union Administration Chairman Mark McWatters has not even been announced as President Trump's pick to run the Consumer Financial Protection Bureau, but his potential nomination already is uniting diverse groups in opposition.

U.S. District Judge Timothy J. Kelly on Wednesday said CFPB Deputy Director Leandra English's case was unlikely to succeed on the merits and did not demonstrate irreparable harm.

Sen. Elizabeth Warren, D-Mass., is asking acting CFPB Director Mick Mulvaney to account for recent directives limiting agency staff members’ ability to access or acquire electronic data, saying the moves hamper critical agency operations.

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.

Over the past year, the focus of several banking policymakers has been how much the regulatory pendulum might swing back toward the industry’s liking. That theme will likely continue in 2018.

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry.

Executives from across the credit union movement offered a largely positive take on the possible appointment of NCUA Chairman J. Mark McWatters to lead the Consumer Financial Protection Bureau.

J. Mark McWatters, chairman of the National Credit Union Administration, is said to be in contention to take over as director of the Consumer Financial Protection Bureau.