CFPB

Richard Cordray, who was appointed by President Barack Obama, is stepping down as head of the Consumer Financial Protection Bureau.

Richard Cordray Stepping Down As Head Of U.S. Consumer Protection Agency

2:39pm November 15, 2017

by Avie Schneider

The embattled director of Consumer Financial Protection Bureau says he will resign by the end of November. Cordray was a frequent target of Republican lawmakers for his tough stance on banks

Consumer Financial Protection Bureau Director Richard Cordray, shown last October at a panel discussion in Richmond, Va., called Tuesday's vote "a giant setback for every consumer in this country. Wall Street won and ordinary people lost."

Senate Kills Rule On Class-Action Suits Against Financial Companies

5:48pm October 25, 2017

by Scott Neuman

The rule, released by the Consumer Financial Protection Bureau in July, was aimed at "forced arbitration" clauses in consumer agreements with banks and credit card companies.

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A woman enters an All American Check Cashing location in Brandon, Miss., in May. The Consumer Financial Protection Bureau has proposed new rules to crack down on such lenders.

Economy

Consumer Watchdog Proposes New Rules On Payday Lenders

1:41pm October 06, 2017

by Scott Neuman

Regulations proposed by the Consumer Financial Protection Bureau would require lenders to determine whether customers can repay within 30 days before issuing a loan.

Equifax spent over $1 million last year on lobbying efforts, according to data compiled by the Center for Responsive Politics.

Equifax Breach Puts Credit Bureaus' Oversight In Question

12:26pm September 21, 2017

by Brian Naylor

The day that Equifax said millions of Americans' personal information had been exposed, lawmakers were considering legislation the industry favored. Now, some are calling for tougher regulation.

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The number of older Americans with student loan debt quadrupled between 2005 and 2015.

More People Over 60 Are Struggling To Pay Off Student Loans, Report Finds

3:47pm January 17, 2017

by Rebecca Hersher

The Consumer Financial Protection Bureau found the number of people 60 and older with student loan debt has quadrupled in the past decade. Most loans were taken out on behalf of a child or grandchild.

Federal Court Rules Consumer Watchdog's Structure Is Unconstitutional

2:12pm October 11, 2016

by Eyder Peralta

An independent federal agency should not be run by a single person, the court found. It decided to remedy the situation by giving the president the authority to fire the agency head at will.