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The Hill

 •  February 13

The Consumer Financial Protection Bureau has dropped a lawsuit against a lender that was allegedly charging interest rates up to 950 percent, NPR reported. The case against Golden Valley Lending had taken CFPB staffers years to establish, but new agency Director Mick Mulvaney instructed staffers to drop the lawsuit, according to NPR. "People are...

The Hill

 •  January 23

The acting director of the Consumer Financial Protection Bureau (CFPB) told employees that the agency’s days of routine, aggressive regulatory and enforcement action “are over.” Acting CFPB Director Mick Mulvaney declared “a new mission” for the bureau in a Tuesday memo to agency staff, first reported by ProPublica and confirmed by The Hill. The...

The Hill

 •  December 5, 2017

Richard Cordray, the former director of the Consumer Financial Protection Bureau (CFPB), launched his campaign for Ohio governor Tuesday, two weeks after leaving the financial sector watchdog. Cordray, a Democrat who served as Ohio’s attorney general before joining the CFPB, announced his candidacy at a diner in his hometown, Grove City, Ohio. The...

The Hill

 •  October 25, 2017

Vice President Pence joined with Senate Republicans to nix a controversial consumer bureau rule banning companies from using forced settlements to resolve disputes with customers. Pence then took over the presiding officer's chair and cast the tie-breaking vote to make the total 51-50. Republicans are using the Congressional Review Act, which gives...

The Hill

 •  October 16, 2017

This summer, the Consumer Financial Protection Bureau issued a rule that prevents financial companies from using arbitration clauses to deny groups of consumers the ability to pursue their legal rights in court. We put this rule in place after conducting a comprehensive study that found that these clauses were effectively blocking billions of...

The Hill

 •  October 5, 2017

A Republican polling firm found wide bipartisan support for a new federal rule banning companies from forcing their customers to waive their right to sue in cases of corporate abuse. American Future Fund (AFF), a GOP polling company, said 67 percent of respondents to a recent phone survey supported the Consumer Financial Protection Bureau’s (CFPB)...

The Hill

 •  August 2, 2017

Acting Comptroller of the Currency Keith Noreika said Monday his agency wouldn’t formally seek the repeal of the Consumer Financial Protection Bureau’s (CFPB) forced arbitration rule, citing a lack of time to analyze its impact.
Noreika, temporary head of the Office of the Comptroller of the Currency (OCC), said the OCC won’t challenge the arbitration rule before the Financial Stability Oversight...