The Consumer Financial Protection Bureau is set to move ahead with a long-stalled rule to protect borrowers from repeated attempts to collect loan payments from bank accounts with insufficient funds.
The Consumer Financial Protection Bureau is requiring buy-now, pay-later lenders to provide the same protections to shoppers as credit card companies do.
The temporary injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies. The plan was set to go into effect next week.
Payday lenders argue that the CFPB's funding structure is unconstitutional because it's not funded by money appropriated by Congress. The argument threatens the existence of other agencies, too.
Three federal appeals court judges appointed by President Trump have ruled that the funding structure of the Consumer Financial Protection Bureau is unconstitutional.
The Consumer Financial Protection Bureau is a powerful agency policing predatory or unfair practices. Trump hobbled it. But a court ruling allows Biden to appoint a new sheriff at the bureau.
California may be on the cusp of creating a watchdog agency. Proponents say federal regulators aren't doing their job, leaving leaving millions of Americans vulnerable during the coronavirus crisis.
Federal regulators issue a new rule that removes a key provision crafted during the Obama administration. Lenders no longer have to check that borrowers can repay a loan.
