Consumer Financial Protection Bureau

Mick Mulvaney is moving from running a banking regulatory agency he hates and once hoped to see killed to serving as chief of staff for a president he once called a “terrible human being.” Mulvaney, a Republican former congressman from South Carolina, was seen by some on Wall Street as...

Wells Fargo & Co (NYSE: WFC) has agreed to pay a $1-billion fine to the government related to abusive lending and auto insurance practices. What Happened Wells Fargo said Friday that it has agreed to a $1-billion settlement with the Consumer Financial Protection Bureau and the Office of the...

Can things get any worse for Navient Corp (NASDAQ: NAVI)? Not according to Credit Suisse’s Moshe Orenbuch. By his estimates, Navient’s nearing the bottom. The education-services firm is down 20 percent year to date, and after a sharp, 4.7-percent sell-off Thursday, Orenbuch perceived a...

The U.S. Department of Education has had enough of “overreaching” watchdogs. Officials announced Friday that they would terminate two agreements with the Consumer Financial Protection Bureau pertaining to information-sharing and oversight cooperation ━ welcome news for recent targets of...

The Consumer Financial Protection Bureau, an agency with uncertain fate in Red-run, anti-regulatory Washington, adopted a rule Monday that will allow consumers to join legal forces in challenging financial institutions. The regulation would prohibit banks and credit institutions from adopting...

If you’re among the 29 million consumers who got back a portion of the $11.8 billion in bad billings by your credit card company or lender, you’re probably happy that a thing called the Consumer Financial Protection Bureau was created by former President Barack Obama nearly six years...

Ocwen Financial Corp (NYSE: OCN) shares crashed 50 percent Thursday after more than 20 states issued cease-and-desist orders against the company related to alleged mismanagement of escrow accounts and the company’s poor financial standing. In addition, the Consumer Financial Protection Bureau...

In another move toward deregulation, Congress is on the verge of passing a bill intended to disallow the Prepaid Card Rule submitted by the Consumer Financial Protection Bureau, or CFPB. Rule Likely To Be Repealed Height Securities said in a note on Monday the Senate resolution proposed last week...

This month, the Consumer Financial Protection Bureau released a report that showed that Americans over the age of 60 are the fastest growing segment of student loan borrowers, with the amount quadrupling over the past ten years to about 2.8 million in 2015. The report stated that older borrowers...

In a 2014 research paper released by the Academy of Financial Services on fiscal self-efficacy and financial stress, researchers linked a personal sense of financial helplessness with feelings of stress, negative emotion and, in some instances, depression. The perception of not having control of...

The Consumer Financial Protection Bureau (CFBP) took action on Monday against Ashford University and the University of the Rockies, two for-profit colleges operated by Bridgepoint Education Inc (NYSE: BPI). The CFPB is forcing Bridgepoint to pay more than $24 million as part of a settlement...

The financial technology segment, which includes companies that lend money online to firms that process electronic payments, had gone quite a long time without catching the attention of government regulators. However, this grace period has come to an end. According to a Financial Times article,...

Lying on a loan application is not only immoral and illegal, it is now easier to discover thanks to social media sites. According to the Wall Street Journal, Lending companies are searching Facebook (NASDAQ: FB), Twitter (NYSE: TWTR), LinkedIn (NYSE: LNKD) and other sites to determine a borrower's...

In an article published Tuesday, The Wall Street Journal quoted Consumer Financial Protection Bureau director, Richard Cordray who said, in a conference call, “Overdraft services began as occasional courtesies offered by banks, but now represent more than 60 percent of fees from consumer checking...